Progressive Moulded Products LTD. gets its final tombstone



    TORONTO, Sept. 18 /CNW/ - As the automotive industry continues to speed
to its demise, PROGRESSIVE MOULDED PRODUCTS LTD. of Concord, Ontario Canada
has failed to restructure its ten (10) plastic plants in Ontario.
    Commencing Tuesday, September 23, 2008 and continuing until Thursday,
September 25, 2008, the PROGRESSIVE MOULDED PRODUCTS LTD. auction will mark
the largest plastic injection moulding sale event in Canadian history.
Toronto-based liquidators Danbury Sales Inc. and Infinity Asset Solutions will
be conducting the three (3) day auction to sell-off the complete contents of
ten (10) Ontario plants. David Ordon, CEO of Danbury Sales Inc. states that
"In our 54 years in business, this is the largest plastic injection auction
that we have ever seen."
    In July 2008, PROGRESSIVE MOULDED PRODUCTS LTD., ceased production citing
"A heavy debt load, declining vehicle sales, the increasing cost of
commodities, and currency fluctuations in North America."
    Specializing in automobile and truck parts; plastic containers; plastic
forming moulds; and moulded carton and injection plastics, including injection
moulders of thermoplastic resins, black box design of plastic automotive
assemblies, appliance and electronic parts, PROGRESSIVE MOULDED PRODUCTS LTD.
boasted revenues of over $290 million (CA) and 2,000 + employees.
    Targeting the automotive market in particular, PROGRESSIVE MOULDED
PRODUCTS LTD. designed and marketed plastic interior sub-systems for cars and
light trucks, components, instrument panels, interior plastic assemblies,
dashboard components, center consoles and related production moulds.
PROGRESSIVE served both automakers and systems integrators across Canada, the
United States and Mexico.
    Although the auction may mark the end for PROGRESSIVE MOULDED PRODUCTIS
LTD. the equipment that remains within the country represents opportunities
for growing and entrepreneurial companies to add capacity for existing and new
applications.

    
    An Auction schedule has been set:

    Day 1 - Tuesday, September 23, 2008
    -----
    PROGRESSIVE MOULDED PRODUCT LTD.
    Auction Locations:
    -   20 Vaughan Valley Blvd., Woodbridge, Ontario
    -   61 Royal Group Cres., Woodbridge, Ontario
    -   21 Graniteridge Rd., Concord, Ontario
    -   125 Villarboid Cres., Concord, Ontario

    Days 2 + 3 - Wednesday & Thursday, September 24 and 25, 2008
    ----------
    PROGRESSIVE MOULDED PRODUCT LTD.
    Auction Locations:
    -   9010A/9010B/9020/9024/9030/9040/ Keele St., Concord, Ontario
    





For further information:

For further information: Jonathan Ordon of Danbury Sales at (416)
630-5241 or Eythor Ernstson of Infinity Asset Solutions at (905) 669-8893; For
information and updates regarding the Auction, visit http://www.infassets.com
or www.danburysales.com

Organization Profile

R.G. ADVERTISING INC.

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PROGRESSIVE MOULDED PRODUCTS LTD.

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