HPG International Inc. is under new ownership and will be reopening within a month with a new name, i2M, which is short for Innovation 2 Manufacturing.
The assets of HPG were purchased for $1.8 million in proceedings at the U.S. Bankruptcy Court in Wilmington, Del., by Crestwood Membranes Inc. Crestwood is owned by Wilkes-Barre, Pa., businessman and former congressional candidate Christopher Hackett.
HPG made PVC film and sheet that is used in roofing, swimming pools and laminating products. The company voluntarily entered Chapter 11 protection Jan. 23 and closed March 23 when its lender stopped its funding.
The new entity said that it already has begun hiring and expects to begin training personnel within the next two weeks, according to a news release. It set a target of four weeks to begin production.
“Customers have already been contacting us with orders. We will use that information to drive the decision process in which of the calendar systems we bring up first. This 'customer first' commitment will be a hallmark of our new way of doing business,” Bernard Rawlings, i2M vice president of sales, said in the company statement.
The decision to reopen “has everything to do with the quality of the workforce in the region and our belief that there is significant demand for the quality product this facility has a history of producing,” according to the company.
Chief Financial Officer Doug Siegrist said applications for employment are being taken online at www.OneSourceStaffing.com.