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Article: Mid-America bags film division of CPI.(News)
- Article from:
- Plastics News
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 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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Byline: Dan Hockensmith
Mid-America Bag LLC of Pleasant Prairie, Wis., has acquired the film division of its former owner, CPI Plastics Group Ltd., amid the Canadian profile and film extruder's bankruptcy.
CPI of Mississauga, Ontario, was placed into receivership Jan. 8 following a petition by its main secured lender, Bank of Montreal. The next day, CPI's U.S. assets were protected from creditors under Chapter 15 of the U.S. Bankruptcy Code.
The Toronto office of Deloitte & Touche Inc. was appointed receiver and manager of the business. Will Frame, managing director of the paper, plastics and packaging practice at Deloitte Corporate Finance LLC ...