US Glass Packaging Company in trouble
In a move expected by many one of the last US manufacturers of glass packaging Anchor Glass Container files for Chapter 11 and effective immediately Anchor Glass named Chief Financial Officer Mark Burgess who joined the company in May as chief executive
Anchor Glass Container Corp stated that will continue paying employee salaries and to continue employee benefits without disruption and stated that its senior secured credit facility lenders have agreed to convert their loan facility into a debtor-in-possession facility so that the company may continue to operate.Is the latest move by Tampa Florida based Anchor Glass Container Corp. (agcc) who voluntarily filed for reorganization under Chapter 11 the beginning of the end of US manufacturers of glass used in packaging?
Labels: Anchor Glass Container, glass packaging, manufacturers
posted by PackagingBlog @ 2:21 PM
1 Comments:
At 6:09 PM,
Anonymous said…
This is not true my father retired from Anchor Glass after 36+ years. No after almost 17 years of retirement the company has stopped paying his promissed medical coverage. His retirement benifit was approximately $900 and his portion of the medical coverage was $92 leaving him with a little over $800.00 take home. No right before the filed bankrupcy the company stopped paying their share in an effort to reduce their debt. My poor father now must pay almost $700 for his medical coverage leaving him with $200 take home. This company is taking advatage of the salary employee retirees who are not protected by the union. Is this legal? Can anyone help stop this unfair action? helengreg65@hotmail.com
Post a Comment
<< Home