TORONTO (July 29)—Rubber and plastics recycling firm Polyphalt Inc. is attempting to reorganize under Canada's Bankruptcy and Insolvency Act, and is "not ruling out any options" for the future of the company, according to Douglas Kong, Polyphalt president and CEO. Options include finding a strategic partner or a possible purchaser of some or all of the company's assets, Kong said. Polyphalt, which makes paving and roofing material from recycled rubber and plastics, was granted 30 days' protection from creditors July 2 after its key secured lender, Grandwin Holdings Ltd., demanded repayment of a loan after twice extending the payment date.
Polyphalt seeks reorganization, possible strategic partners
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