Two North American recycling companies are teaming up to revitalize Sarnia's closed Entropex plant on Lougar Ave. Merlin Plastics and Emterra Group have purchased the assets of the plastic recycling plant out of receivership.
Rob Smith, a partner with the court appointed receiver MNP Ltd., says the sale was approved in court Tuesday. "In this case I think we were fortunate to find somebody who was interested in buying it," says Smith. "We were able to work out a deal with them that was acceptable to the stakeholders and to the court. So it's a good outcome."
The plastic recycling plant closed in July after 40 years in business, throwing 155 people out of work. Smith says the sale is set to close this Friday and it's his understanding the new owners plan to rehire as many former Entropex employees as possible. In a news release, buyers Emmie Leung and Tony Moucachen say they plan to restart the company in a staged manner under a new name. Entropex had become a world leader in the reprocessing of used industrial and consumer plastics.
