Sigma Industries files for bankruptcy protection
Quebec City-based composites parts maker Sigma Industries Inc. has filed for bankruptcy reorganization in Cana...
August 1, 2010 by Canadian Plastics
Quebec City-based composites parts maker Sigma Industries Inc. has filed for bankruptcy reorganization in Canada, seven months after its U.S. subsidiary in Ohio filed for Chapter 11.
According to a company news release, the current reorganization plans “do not have any effect on its ordinary course of business”.
Sigma Industries employs 350 people in Canada and the U.S., making composite and metal components for heavy truck, train and subway, wind energy, machinery, agricultural and forestry markets. Sigma Industries, and its subsidiaries Rene Composite Materials Inc. and Transcam Composites Inc., filed for reorganization bankruptcy in Superior Court of Quebec.
In June 2009, Sigma received a $5.0 million term loan financing from Investissement Quebec, intended to help the company make it through the economic crisis.