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Article: Equity firm to buy Uniflex bag assets.(News)(Brief Article)
- Article from:
- Plastics News
- Article date:
- January 3, 2005
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Equity firm Brynwood Partners Inc. has won a bid to buy the assets of bag maker Uniflex Inc. and will take the company out of Chapter 11 bankruptcy protection.
Brynwood, in Greenwich, Conn., was to close the purchase in December, said new Uniflex Chief Executive Officer Vincent Schaller. Brynwood appointed Schaller, a printing industry executive for more than 20 years, to head Uniflex.
The Hicksville company will change its name to Uniflex Holdings, Schaller said Dec. 15, the date of a court-ordered auction for the company assets. Uniflex now is debt-free, he said. The company had more than $13 million in secured debt when it filed June 24 for Chapter 11 ...