Court protection for Consumers Packaging extended

Consumers Packaging Inc. today announced that it has received an extension to an order from the Ontario Superior Court of Justice under the Companies“ Creditors Arrangement Act (CCAA). The Order cont…

Consumers Packaging Inc. today announced that it has received an extension to an order from the Ontario Superior Court of Justice under the Companies“ Creditors Arrangement Act (CCAA). The Order continued the stay legal proceedings against the Company in respect of its Canadian operations until 31August this year. The order was first granted on 23May 2001. The company was expecting to appear in court during the week of 27 August to seek approval to sell substantially all of its Canadian glass producing assets, as well as shares on Consumers US, Inc., to Owens-Illinois, Inc. of Toledo, Ohio, US, for approximately CAD 235 million. Consumers Packaging employs approximately 2,400 people in Canada. It manufactures and sells glass containers for the food and beverage industry. It supplies packaging products for the Canadian juice, food, beer, wines and liquor industries from three plants in Ontario (Toronto, Brampton and Milton), and one each in Quebec (Montreal), New Brunswick (Scoudouc) and British Columbia (Lavington).