MIAMI, OKLA. (June 13, 10:15 a.m. ET) — Plastic fuel can molder Blitz USA Inc. will shut operations after unsuccessfully trying to reorganize under Chapter 11 bankruptcy protection since Nov. 9, 2011, according to a newspaper report. The July 31 shutdown will affect 117 employees. Blitz has been facing a storm of lawsuits blaming its products for consumer injuries caused by fires. The firm spent some $30 million on product liability suits and owes $3.5 million in legal fees.
Plastics News' experts discuss trends impacting the recycling of plastic materials analyzing market conditions, opportunities, threats, regulatory activity, and sustainability trends' impact on supply. View analysis of leading recyclers, resin price and production trends, and recycling rates as well as perspectives from industry thought leaders regarding market trends.Learn more