RENSSELAER — Genova Plastics has a new owner, with the plant currently in operation in Rensselaer.
Plastic Services and Products in Salt Lake City, Utah, re-opened the building weeks ago after rekindling the hiring process in late May. The plant will function as Genova USA after PSP purchased the plant’s assets as well as the assets of five other plants throughout the country.
Besides Rensselaer, PSP purchased the Genova plant in Paducah, Kentucky, as well as Davison, Michigan, which served as Genova’s headquarters; Fort Wayne, Indiana; and Sparks, Nevada.
Headquartered in Salt Lake City, PSP also operates another building in Centralia, Washington.
The Rensselaer plant sat empty for several months after it closed in December. Genova closed plants in Indiana, Kentucky and Michigan and looked to pass its assets to a new buyer.
Before it closed, Genova had around 570 employees across six plants. The Rensselaer plant halted production in November, citing a raw materials shortage. At the time, the company said it expected to begin production the first week of December.
But days before employees were expected to work, the company announced the furloughs would continue indefinitely. In a press release from the Paducah plant, company officials blamed the layoffs on a shortage of raw material that lasted longer than anticipated.
However, in another press release weeks later, Genova officials said their bank cut off financing to the business and they were unable to buy materials needed to continue manufacturing.
It is unclear how many employees have been rehired or newly hired at the Rensselaer plant. A call earlier this month to the manager at the plant said he was unable to answer any questions.
PSP is a leading manufacturer of plastic pipes and fittings and vinyl siding. It also produces steel pipe, bathtubs, shower enclosures and HVAC duct and fittings. It serves wholesale and retail customers in the U.S. and Canada.
Genova, meanwhile, has more than 50 years of experience manufacturing vinyl products. It was one of the largest and most established companies in the industry, starting with vinyl plumbing before expanding to manufacturing vinyl gutters, fencing, railing and deck flooring.