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Article: Renaissance sells off assets.(Renaissance Plastics Co.)
- Article from:
- Plastics News
- Article date:
- January 20, 2003
- Author:
CopyrightCOPYRIGHT 2003 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: Joseph Pryweller
Financially troubled Renaissance Plastics Co. is selling its assets to custom injection molders Alliance Precision Plastics Corp. and Viking Industries LLC.
According to documents filed at U.S. Bankruptcy Court in Akron, Ohio, the companies agreed to split three Renaissance subsidiaries. Final bankruptcy details and creditor arrangements still must be worked out, according to filings.
Alliance, based in Rochester, N.Y., will purchase the company's Rochester-based Amplaco Inc. and Nylomold Corp. divisions. Renaissance had planned to merge those operations when it entered Chapter 11 bankruptcy protection in March.