WEB EXCLUSIVE Two big filings for Chapter 11 bankruptcy protection occurred last month. Both were voluntary filings, and the companies will continue normal operations. Milacron Inc., Cincinnati, announced its filing along with the signing of an agreement in principle for an investor group to purchase substantially all of the company’s assets. That group includes Avenue Capital Group, N.Y.C., and certain funds/accounts managed by DDJ Capital Management LLC, Waltham, Mass., which together already hold about 78% of the company’s senior notes. The Chapter 11 filing affects only Milacron’s North American operations.
Chemtura Corp., Middlebury, Conn., a major supplier of plastics additives, as well as urethane elastomer chemicals, included only its U.S. operations in its Chapter 11 filing.
In the world of polymers, polyurethane chemistry is probably the most versatile. This a resulted in a wide range of products made from these materials and given the industry the flexibility to respond to the progressive march of regulatory concerns.
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