HARTSVILLE — Hilex Poly Co. LLC has received an order confirming the company’s pre-packaged Plan of Reorganization and emerge from Chapter 11 within a few weeks.
The plan is expcted to reduce the company’s debt, reduce annual interest expense and improve cash flow.
The plan will become effective and the company will emerge from bankruptcy once all closing conditions have been met.
“We are extremely pleased that the court has approved our plan,” David Pastrich, president and chief executive officer of Hilex, said in a press release. “I would like to extend my gratitude to our employees, customers and vendors for their unwavering support during this process.”
Hilex is a U.S.-based company with headquarters in Hartsville and 11 manufacturing facilities across the United States, including the world’s largest plastic bag recycling plant.
Hilex is a manufacturer of plastic bag and film products. Focusing primarily on high density polyethylene (HDPE) film products and related services, products range from bagging systems to agricultural films. The company’s Web site is www.hilexpoly.com.
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