Techneglas Liquidates Assets from Plants Closing in Pennsylvania and Ohio

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Techneglas Incorporated (Columbus, Ohio) has filed Chapter 11 bankruptcy, because fierce competition has caused the company to accumulate debt of about $50 million. Techneglas has been downsizing to reduce operational costs, and in August 2004 ceased production at its plants in Pittston, Pennsylvania and Columbus, Ohio. Techneglas plans to stop production at its third and remaining plant in Perrysburg, Ohio, in March 2005.

The equipment from the Pittston, Pennsylvania, and Columbus, Ohio, locations is in the process of being auctioned off. The equipment from Perrysburg, Ohio plant will be sold after production ends. The items from Pittston include batch houses, two natural gas-fired combustion furnaces, a natural gas regenerative furnace, glass forming lines, hydraulic presses, finishing lines, and mold ovens. The items from Columbus, Ohio will include a batch house, forming lines, hydraulic forming presses, finishing lines, rewash lines, and mold ovens.

Techneglas Incorporated, established over 55 years ago, has been working with television manufacturers, such as Toshiba, RCA, Sony, Samsung, Daewoo, Hitachi, Panasonic, and Phillips. The Pittston plant was Techneglas' only plant to produce glass panels used in front of televisions. The Columbus plant manufactured and distributed specialty bulbs similar to CRT (Cathode Ray Tubes) for customers around the world. The Perrysburg plant produced solder glass, the sealing glass that holds the television picture tube together.

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