M&G Polymers files for bankruptcy


By Beth Sergent - bsergent@aimmediamidwest.com



APPLE GROVE — M&G Polymers USA, LLC, has filed a petition for bankruptcy protection.

The filing was made on Tuesday in the U.S. Bankruptcy Court for the District of Delaware.

The filing was reported by the Wall Street Journal and Bloomberg with the case number listed and confirmed on the website for the United States Bankruptcy Court, District of Delaware. The Point Pleasant Register has not seen the actual court documents in this case.

The filing comes a little over a month after the company sent a letter to the Mason County Commission stating: “Pursuant to the WARN Act, M&G Polymers USA LLC …regrets to inform you that, absent obtaining access to additional funding and liquidity, it will be forced to cease production activities.”

The letter went on to say, the affected employment site was the Apple Grove plant “where cessation of production activities will occur.”

The letter continued: “At this time, we anticipate only required resources necessary to maintain the security of the site to remain employed past the notice period.”

All employees are affected, the letter also stated.

At the time the letter was sent, the Point Pleasant Register reached out to the company’s corporate communications department, inquiring as to how many employees this would affect and further explanation regarding the ceasing of production activities.

A statement from communications representative Terry Tyzack made in September said:

“M&G Chemicals is facing financial difficulties and is working closely with its lenders to address the situation. However, these circumstances require the Company to reduce its operating costs and plant construction activity. As such, certain areas of the business will be affected including Corpus Christi, Apple Grove and the Sharon Center.”

A staff member for U.S. Senator Joe Manchin, told the Register, they estimated there were around 100 hourly employees and 40 salaried employees who could be directly impacted by the closure.

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By Beth Sergent

bsergent@aimmediamidwest.com

Beth Sergent is editor of Ohio Valley Publishing.

Beth Sergent is editor of Ohio Valley Publishing.