A court appointed receiver is recommending that a buyer be approved for Sarnia's closed Entropex plant on Lougar Ave.
Rob Smith, a partner with MNP Ltd., says the sale needs court approval and a hearing is set for October 18.
"We've had quite a bit of interest and I'm confident we'll get approval of the sale but there are a lot of stakeholders and people affected by the receivership," says Smith.
"Any of them may come and ask questions, they may raise opposition, we don't know what's going to happen. I am confident that we've done a very thorough and good job and should get approval."
Smith says an asset purchase agreement was signed Thursday with a company that's looking to restart the operation.
He says he's not at liberty to identify the purchaser, other than to say it's a competitor in the business.
It's up to the new purchaser to decide when the plastics recycling operation would re-open but Smith understands it's their intention to rehire as many former Entropex employees as possible.
Entropex announced in mid-July that it was shutting down after 40 years of operation, throwing 155 employees out of work.
