Manufacturing Industry
PVC Container may go private.(News)
Plastics News, September, 2005
Byline: Michael Lauzon Bottle blow molder PVC Container Corp. has announced a first step to becoming a private company. The Eatontown, N.J., firm said Sept. 16 that it wants to eliminate the costs of being a public company. It plans to shrink its number of stockholders in a reverse stock split so that it is eligible to stop filing reports with the Securities and Exchange Commission and so it can terminate its public registration.
"The company's common stock is not very liquid, and the company's stockholders do not receive any appreciable benefit from the company being a public reporting company,'' noted PVC Container President and Chief Executive Officer William Bergen in a news release. One analyst said he feels the move is a logical one. "Given the...
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