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[GreenYes] Plastic bag mfr. files Chapter 11

from the Resource Recycling e-newsletter

Hilex restructures debt

Plastic bag producer Hilex Poly Co. (Hartsville, South Carolina) announced on May 6th that it is voluntarily undertaking Chapter 11 reorganization. The move is aimed at reducing overall debt and restructuring its remaining debt, as per an agreement with the company’s lenders. Additionally, Hilex has obtained $140 million in debtor-in-possession financing from GE Capital (Norwalk, Connecticut) and Morgan Stanley Senior Funding, Inc. (New York).
       Hilex hopes the debt restructuring will allow the company to focus on long-term environmental strategies, including degradable bags and recycling options.

Pete Pasterz
Cabarrus County Recycling/HHW
Concord, NC
(704) 920-3280
E-mail correspondence to and from this address may be subject to the North Carolina Public Records Law and may be disclosed to third parties.

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