Profine Molds enters receivership, seeks restructuring
Canadian PlasticsCanadian Plastics
Oakville, Ont.-based moldmaker Profine Molds Inc. entered financial receivership on Aug. 15 and has shut down its o...
Oakville, Ont.-based moldmaker Profine Molds Inc. entered financial receivership on Aug. 15 and has shut down its operations while seeking restructuring.
The company is exploring various restructuring options, marketing manager Wayne Stoddard said. If these options are not accepted, the company will go out of business and its holdings will be sold, he added.
“We should be able to confirm this week whether there is any potential move forward with the restructuring,” Stoddard said.
Profine Molds was started by moldmaker Manuel Gomes in 1994, and by 2004 had expanded from 2 to more than 65 employees and relocated to a 60,000 square foot facility. In 2005, the company opened a sales office in Hong Kong.
Profine Molds made injection and blow molds for the automobile, consumer products, packaging, medical and cosmetics industries.