U.S. Plastic Lumber exits WPC business but sticks with PE decking (December 29, 2004)
As part of a restructuring plan, U.S. Plastic Lumber announced late in 2004 that it would exit the wood-plastic com...
As part of a restructuring plan, U.S. Plastic Lumber announced late in 2004 that it would exit the wood-plastic composite market and focus on its polyethylene decking and lumber products. USPL (Boca Raton, FL) has been under Chapter 11 bankruptcy protection since July, and expects to emerge from bankruptcy early in 2005.
USPL’s announcement means it is exiting all of its composite lines as soon as is practical, including wood-plastic composite deck board, and composite products used in windows, doorframes and playground equipment.
"We feel that USPL is in such a strong market position and must act quickly to take advantage of the growing demand for all-HDPE products, and that to focus on anything else would be a distraction and therefore counterproductive to our goals," said Joseph E. Sarachek, USPL’s chief restructuring officer from Triax Capital Advisors.