Newsclips.(Briefs)(Plymouth Rubber Co. Inc files for Chapter 11)(Performance Pipe closing Texas plant)(Spaulding Composites Inc. lays off up to 30 workers)

Plastics News, July, 2005

Plymouth Rubber files for Chapter 11 CANTON, MASS. - Plymouth Rubber Co. Inc. filed for Chapter 11 protection from creditors July 5 in U.S. Bankruptcy Court in Boston so it could continue operations until a dispute over its secured lenders liens is settled. The company, founded in 1896, makes and supplies rubber and vinyl tapes, electrical products, films and other products.

Maurice Hamilburg, Plymouth's president, said in a news release that the company filed for protection because Pension Benefit Guaranty Corp. and other secured lenders could not agree on a priority for their respective liens. The company also said it had arranged a funding agreement with LaSalle Bank NA, which is subject to court approval, that will provide about $2 million for...

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