An American buyer of production equipment from Fibrex Insulation, a bankrupt Sarnia, Ont. manufacturer, announced it will transfer the equipment to an Alabama factory.
An American buyer of production equipment from Fibrex Insulation Inc., a bankrupt Sarnia, Ont. manufacturer, announced it will transfer the equipment to an Alabama factory.
Industrial Insulation Group LLC said Thursday it reached an agreement with Alvarez & Marshal, Fibrex's court-appointed receiver, to acquire equipment including mineral wool pipe insulation machines. IIG officials originally intended to restart the Sarnia plant but stated Thursday that "there were several conditions that made restarting not feasible for the company."
IIG stated it intends to move machines to its MinWool 1200 plant in Phenix City, Ala. and have the first machine operating in July. Its insulation products are targeted at industrial customers in sectors such as petrochemical, power generation, pulp and paper and metals manufacturing.
DCN DIGITAL MEDIA
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