Progressive molded products closes its doors

Jul. 3--Progressive Molded Products has closed its doors. "This is an across the board reduction in employees and operations," said Michael Daniher, spokesperson for the company. Up to 190 employees were told Wednesday that the decision was effective immediately. The Canada-based business filed a Chapter 11 bankruptcy on June 20 in Delaware, but Mr. Daniher said it planned to reorganize and continue operations. On Tuesday, Ford, Chrysler and General Motors withdrew their support as customers of PMP, and the decision to cease operations was inevitable. "There were circumstances that wouldn't allow them to continue operations," Mr. Daniher said. Mr. Daniher said that the debt load PMP had been trying to service and the state of the automobile industry led to the company's demise. "(PMP) just got swept along with and affected by... [read full story]