Sun Automation Group, Sparks, Md., purchases the line of credit note that makes it the sole secured creditor of McKinley Machinery Inc., Avon, Ohio

Paperboard Packaging, Nov, 2004

Sun Automation Group, Sparks, Md., purchases the line of credit note that makes it the sole secured creditor of McKinley Machinery Inc., Avon, Ohio. The note is secured by all of the assets of McKinley, according to Lou Sardella, chairman of Sun, and Scott McKinley, president of McKinley Machinery.

Financial terms of the agreement were not disclosed. McKinley is currently working to ensure the availability of parts, service and support for McKinley machines in operation; complete all machine orders in process; protect all unsecured creditors as much as possible; and develop a format under which McKinley's line of machinery remains available to the industry. Scott McKinley says Sun's involvement will not change the company's management structure or the day-to-day operations of the company. McKinley Machinery is one of Sun Automation's biggest customers and uses many of Sun's products on its machines, according to Ted Hartka, president of Sun Automation. European private equity firm CVC Capital Partners acquires the printing inks and printing plates operations of BASF, which includes BASF Drucksysteme GmbH and other printing system companies. The sale covers all BASF printing system facilities and activities, including pigment production at the BASF Colorants & Chemicals Co. Ltd. in Shanghai, as well as the production of alkali blue at the BASF Corp. plant in Huntington, W.Va. Financial terms were not disclosed, and the transaction is subject to regulatory approval. CVC has also acquired Swedish printing inks manufacturer ANI Printing Inks, and will merge its operations with the BASF operations. The merged business will be based in Stuttgart, Germany. BASF is based in Austria.