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Glass Group goes on auction block today

PARK HILLS – As employees were showing up for work this morning at The Glass Group Inc. in Park Hills, they faced the uncertainty of what the future will hold for their employer. Beginning at 9 a.m. today The Glass Group Inc. began auctioning off its assets, including the plant located in Park Hills.

The auction is being held in Philadelphia, Pa.

“To my knowledge there are a couple of major players who have plans to continue operations with the company,” said Scott Winder, the human resource manager at the Park Hills facility. “Without talking with these people, what the future entails for the Park Hills plant would be only pure speculation.”

Winder said a U.S. Bankruptcy Judge will accept bids on Tuesday at 12:30 p.m. in Wilmington, Del.

“All of our employees are aware of what is going on,” Winder said. “They probably know more about it than we do. We are very positive about this. Everything points to ongoing operations here. Everyone here is hoping that the plant will continue to operate in its current capacity or even bolster its operations.”

The Glass Group Inc. filed for Chapter 11 bankruptcy protection on March 1 in the U.S. Bankruptcy Court in Delaware. At the time officials said the company was filing for bankruptcy protection in order to obtain additional financing.

The St. Louis Post Dispatch reported on Saturday that as of July 31, The Glass Group Inc. owed $67 million while it had assets of $57 million.

Workers at the Park Hills plant were notified on Aug. 5 that a sale of the company could result in massive layoffs or even a shutdown of the plant. The notification that was being given to the employees was part of “The Worker Adjustment and Retraining Notification Act (WARN).”

In an interview conducted on Aug. 5, Plant Manager Ken Sokol said the Park Hills plant was operating at full capacity.

“I want to go on record to say that at the capacity our plant is being utilized at and with our performance, maintaining our current performance is only going to help our situation,” Sokol said. Presently our factory is being fully utilized and our orders are six months out. Our performance in the past couple of months has been, as records show, as good as they have been since the plant opened.”

With that said, Sokol admitted that the future of the Park Hills Plant, “will depend on the vision of the new owners as to what they see the company or the plant turning in to.”

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