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Prime Plastics hires firm to sort out future

By: Frank Antosiewicz

September 6, 2013

WASHINGTON, PA. — Prime Plastics Inc. recently hired Equity Partners CRB LLC to seek an investor, a joint venture partner, a source of refinancing or a buyer for the Washington-based blow molder.

Eaton, Md.-based Equity Partners said Prime Plastics is running seven extrusion blow molding lines at its 70,000-square-foot facility. Its machines range in head size from 3-25 pounds, and make toys, holiday decorations, and commercial food and drink containers.

Prime Plastics filed in February for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Equity Partners Managing Director Hank Waida said the aim is to keep Prime Plastics running in the community. The process usually is completed within 60 days, he added.

The company has the capacity to decorate, assemble, package and ship goods directly to customers. It is in the process of obtaining ISO 2000-9001, minority- and woman-owned business certifications.