Freedom Plastics president hopeful
Assets of the financially troubled manufacturer of PVC pipe and fittings were auctioned off by a receiver to four companies for a total of about $11.5 million. Rock County Circuit Judge Kenneth W. Forbeck on Tuesday approved the auction results.
Westlake Chemical Corp. of Houston bid $6.3 million for Freedom’s Janesville pipe-manufacturing division, which employs 50 to 60 people. Harrington Corp. of Lynchburg, Va., bid $1 million for the 25-employee Janesville fittings unit.
A Harrington representative couldn’t be reached on Wednesday. A Westlake spokesman said that company doesn’t yet know what it will do with the Janesville pipe-manufacturing operation.
Freedom president Steve Scaccia said he believes, but he’s not certain, that Harrington and Westlake plan to operate in Janesville.
Last updated: 9:51 am Thursday, December 13, 2012