Plymouth Rubber facing possible delistment from AMEX

CANTON, Mass. (May 29)—The American Stock Exchange has notified Plymouth Rubber Co. Inc. that as of the first quarter of fiscal 2003, the company is not in compliance with the board's listing requirements. Plymouth's shareholders' equity has fallen below $2 million and, the automotive, industrial and insulating tape and film producer has posted losses from continuing operations and/or net losses in two of its three most recent fiscal years. Plymouth has until June 23 to submit to the AMEX a plan outlining the actions the firm will take to bring it back under compliance within 18 months. Plymouth issued a written statement that it expects to file such a plan and is evaluating alternatives.