WAYNE, N.J. (Aug. 1) — International Specialty Products Inc.'s acquisition of certain emulsion SBR assets from Ameripol Synpol Corp. has been cleared by a U.S. bankruptcy court. ISP took control of Ameripol Synpol's Port Neches, Texas, plant July 31 and hopes to have some production back up and running by mid-August in time for early September shipments. ISP bid $1 million and the assumption of $4.6 million in tax obligations for the ASC assets. The business, which filed for Chapter 11 bankruptcy protection in December 2002, has been renamed ISP Elastomers. ISP has pledged to invest up to $60 million over three years to bring the unit up to modern operating parameters and provide it with sufficient operating capital.
Bankruptcy court approves ISP purchase of Ameripol Synpol assets
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