Consolidated Container has completed majority acquisition of various assets of Shelburne Plastics including Plastic Technologies of Vermont, Plastic Technologies of Maryland and Plastic Technologies of New York.
The transaction for these firms, which are doing business as Shelburne Plastics, was executed under the provisions of Section 363 of the Bankruptcy Code after the sellers filed for protection from creditors under Chapter 11 of the federal bankruptcy laws.
In addition to the acquisition of all Shelburne's manufacturing assets, Consolidated Container has signed leases to keep operating its business in South Burlington, Vermont, Manchester and New Hampshire.
The company is considering to hire the majority of the employees at these locations.
Consolidated Container president and CEO Jeffrey Greene said that the transaction will enable the company to provide quality products and better service to existing and prospective customers in the Northeast region.
"We look forward to a smooth transition for our new customers and new employees," added Greene.
Consolidated Container is engaged in developing and manufacturing rigid plastic packaging for dairy, household chemicals, food, industrial and specialty chemicals, water, and beverage and juice markets.
The company operates with a network of 56 manufacturing facilities across the US.
