LandStar, Inc. has commenced a second phase of the financial and structural reorganization of the company. The company is executing on advice from its investment bankers to reduce corporate debt and dispose of non-performing assets.
The company has completed the sale of PolyTek Rubber & Recycling, Inc. and its subsidiaries effective December 31, 2002. In addition, PRR has sold PolyTek Oklahoma, Inc. effective December 31, 2002.
Effective February 1, 2003, PRR subsidiary PolyTek Pennsylvania, Inc. has conveyed its Chambersburg facility to Edge Rubber Pennsylvania, LLC, the security holder on the facility.
Phoenix-based LandStar Rubber Inc., in the process of refocusing its core business operations towards the production of devulcanized rubber materials.
Late last year LandStar Rubber sold its Asphalt Rubber Division and its subsidiary, PolyTek Southwest Inc., to United Trans-Western Inc.
LandStar is a polymer redeployment and polymer reactivation company aggressively expanding through acquisition and through the development of proprietary technologies in the polymer recycling industry. The company also produces crumb rubber, the basic material used in the manufacture of recycled rubber products and applications.Latest from Recycling Today
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