Polymer Plainfield shutters Cambridge, Ont. plant
Injection molder Polymer Plainfield Inc. announced plans to close its Canadian subsidiary, Polymer Techno...
Injection molder Polymer Plainfield Inc. announced plans to close its Canadian subsidiary, Polymer Technologies Inc., as part of a restructuring move.
Polymer Plainfield, which is based in Plainfield, Ill., purchased the Cambridge, Ont. facility in 2007 as part of its acquisition of injection molder Pixley Richards Inc.
The company is seeking to have auditing group KPMG Inc. brought in as its administrator under the Canadian Bankruptcy and Insolvency Act to oversee the closure.
In an April 2 news release, Polymer Plainfield executives maintained that the company remains strong and committed to its customers, but needed to close Cambridge to restructure to the current economic climate.
The company, which still has manufacturing sites in the U.S., China, Mexico, and the Dominican Republic, performs injection molding and metal stamping, with insert molding, two-shot molding and microcellular molding making parts for a variety of industries including auto, medical and electronics.