Michigan-based Regal up for sale

Saying they cannot continue to operate for a loss, owners of Regal Plastics Co. are attempting to sell the company by no later than March of 2004. The company, based in Owosso, MI, is a supplier of injection molded parts, mainly to the automotive industry.
According to published reports, the company first informed UAW Local 748, which represents Regal workers, of its financial difficulties in June of this year. Regal Plastics was founded by William Packard 25 years ago. Packard is also chairman and founder of Vitec, a company that makes plastic fuel tanks for General Motors and other OEMs. Regal Plastics employs about 200 workers at its plant in Owosso.