SAN DIEGO — Biomade Plastics Inc. put on its best new face at a recent recreational trade show and distanced itself from a former emphasis in the medical waste business.
Biomade is focusing on its experience with plastic products while ``being rehabilitated back into a public company,'' Thomas Kilmer, president and chief executive officer, said in an interview at the Action Sports Retailer trade exposition in San Diego.
Biomade of Doylestown, Pa., exhibited its two-wheel Pakrat carryall hand cart and a re-oriented line of Outbak dry-box containers at the expo, Sept. 10-12.
Reube's Plastics Inc. of Hatfield, Pa., molds the Pakrat's corner brackets and end caps of high density polyethylene. The product, selling wholesale for about $21-$25, made its first appearance at the show.
National Polymers Inc. of Lakeville, Minn., injection molds the Outbak of HDPE with ultraviolet stabilizers and a tongue-and-groove fitted-gasket lid. The outdoor containers can stow sporting goods, deck gear or camping equipment, come in 40- and 60-gallon sizes in six colors and sell wholesale for $17.50-$28.50.
Outbak represents a redirected consumer application for a leak-proof medical waste container line that Biomade introduced in 1993. The environmental industry used the containers in transporting and storing regulated, medical and hazardous substances.
The valuable injection molds are the same; additional colors boost the new product's broader market appeal.
Biomade was a wholly owned subsidiary of Boston-based BioMedical Waste Systems Inc., which filed in 1995 in New York for reorganization and protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code.
In November 1996, investors and lenders hired Kilmer and Executive Vice President Suzanne Badoux to manage and reorganize BioMedical Waste.
The team moved ``to get rid of all the waste business assets,'' Kilmer said. ``Sell them off, get lenders to take them back and stay in the plastics business, the only subsidiary [of 51 subsidiaries] generating cash flow since the bankruptcy filing.''
Lenders agreed to a reorganization plan under which they were partially reimbursed and took stock, he said. Unsecured creditors received stock generally amounting to 9 cents for each dollar owed.
ARK Industries Inc. was formed as a new company into which the BioMedical Waste public shell was merged as part of the court-approved plan, Kilmer said. Bankruptcy protection ended in April, and now ARK, also of Doylestown, operates Biomade and has applied for an over-the-counter listing for the company's stock. Biomade employs five.
In June, publicly traded Med/Waste Inc. of Miami Lakes, Fla., acquired Biomade license agreements and molds for the manufacturing of reusable sharps containers.
Med/Waste has an option to buy Biomade's large-capacity phlebotomy sharps containers by December, Kilmer said.
``We are weaning out of the last medical waste business and focusing on the consumer products business.''