Manufacturing Industry
CRESSTALE'S PHOENIX RETURNS TO THE ASHES: BRITISH MOLDER IN RECEIVERSHIP.
Plastics News, August, 1999 by Higgs, Richard
Rescuing a small custom injection molding business from bankruptcy in northern England in 1980, Peter Minto braved economic crises, fierce competition and a disastrous plant fire. Through it all, Minto fought to remake the molder into a leading supplier of cosmetic products. But now Cresstale Ltd.
is in receivership and seeking a new owner. The Thornaby-on-Tees, England, company was a victim of a three-month delay in completion of its new plant in the United States and a lost contract from a major customer. Julian Whale, the court-appointed receiver from international accounting firm KPMG, expects to sell the firm as a going concern, but added that the U.S. plant is outside his jurisdiction. ``I have already received several enquiries from both the...
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