Fires could spell end for composite manufacturer
By Editorial Staff, Resource Recycling
XPotential Products, Inc., a Manitoba-based manufacturer of plastic composite construction materials, is auctioning off surplus equipment and will make a decision whether or not to stay in business at the end of the year.
During the last six years, XPotential has had two fires at its facility, located just outside of Winnipeg. According to the Winnipeg Free Press, a fire destroyed the 50,000-square-foot plant in 2006, with officials putting the estimated damage in excess of $2 million (Canadian). In 2011, the newspaper reported another fire further damaged the building.
"They were both bad, they caused a lot of damage," Jack Lazareck, the company's owner, told Plastics Recycling Update.
He said that it took XPotential a while to rebuild and getting compensation from the insurance company has been complicated. Lazareck said that his company would auction off surplus equipment and decide if it would stay in business in January. He refused to answer any more questions from PRU.
One source, speaking on background, said that XPotential is not accepting any more shipments of used oil containers.