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Plastic packaging processor Constar files for third bankruptcy since 2008

Constar International Holdings, a maker of plastic bottles primarily for food and beverage markets, has filed for Chapter 11 bankruptcy protection. This is the third bankruptcy filing since 2008 for the Trevose, PA-based company, which listed assets of as much as $100 million and debt as high as $500 million according to U.S. Bankruptcy Court papers. The largest unsecured creditors listed in the bankruptcy filing include DAK Americas and DAK Resinas de Mexico, owed more than $15 million, and Britvic Soft Drinks Ltd. of London, which is owed $5.43 million.

Constar is a major producer of PET bottles and containers including barrier and hot-fill technology. In 2013, Constar obtained six new patents related to its Diamond Clear Oxygen Scavenging technology for PET packaging. A proposed buyout offer from Amcor Rigid Plastics USA has been made for $68.5 million.

Constar operates seven plants in the U.S. with 470 employees, and two in Europe.

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