Belcor Subsidiary Agrees to a Plastic Bag Venture

Belcor Inc., an Irvine manufacturer of plastic bags, said its wholly owned Aargus Poly Bag Co. subsidiary has agreed to a joint venture that company officials say is worth an estimated $1.5 million in additional revenue during the current fiscal year.

The Chicago subsidiary will manufacture plastic grocery bags in cooperation with Hipak Manufacturing Inc., also of Chicago. Belcor’s contribution to the joint venture totals about $465,000, said Kurt Nicolai, the company’s vice president. Currently, Aargus has about $10 million in annual revenue, but within three years, Nicolai said, the joint venture is expected to boost the subsidiary’s sales to about $30 million a year.