Business Services Industry
Soo Plastics looks for buyer after Ch. 11 filing.(News)(Brief Article)(Statistical Data Included)
Crain's Detroit Business, September, 2002 by Kosdrosky, Terry
Byline: Terry Kosdrosky Soo Plastics Inc., an auto supplier owned by Ann Arbor attorney Barbara Hooberman, has filed a Chapter 11 bankruptcy petition and is courting buyers. The company produces injection-molded plastic parts for the automotive industry. Its largest customer, General Motors Corp., is providing $5 million in debtor-in-possession financing, said Barbara Rom, a partner at Detroit-based Pepper Hamilton L.L.P.
who is handling the bankruptcy case. Soo Plastics will continue operating during the Chapter 11. The company employs 212 and owns a 135,000-square-foot plant in Sault Ste. Marie and a sales and marketing office in Farmington Hills. It reported about $25 million in sales last year. Hooberman, a partner at Ann Arbor-based Kessler,...
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