San Jose, Calif.—After suffering through
some difficult times during the past year or so, Burke Industries announced it
has completed a successful reorganization from Chapter 11 bankruptcy. The
resilient flooring and commercial rubber goods producer had filed for protection
under Chapter 11 in June 2001. The reorganization plan included the sale of its
Engineered Polymers division which operated plants in Santa Fe Springs, Calif.,
and Taunton, Mass. The new company will focus on Burke’s core business in
flooring and commercial rubber processing with manufacturing facilities in San
Jose, Calif., and Eustis, Fla.
“We at Burke are excited that the company
has successfully reorganized and emerged with a strong balance sheet,” said
Robert Pitman, Burke’s senior vice president and general manager. “The
company will have a capital structure that will free-up resources which can be
reinvested in the business. “Our employees, customers and vendors were very
supportive during this difficult period,” he added, “and our long-term
relationships not only survived the process but promoted a successful
outcome.” “We are very pleased to help with the restructuring of Burke,”
said Matthew Kaufman, managing direc tor of GSC Partners, the new majority
shareholder of the company.
“We look forward to working closely with
Burke’s management team to enhance the company’s competitive position.”
Burke’s flooring division had been based on a dominant West Coast position in
resilient rubber flooring until the acquisition of the Mercer Products Co. in
1998. The union of the two created BurkeMercer Flooring Products, offering a
complete line of resilient flooring including rubber and vinyl wall base, stair
treads, tile and transitional moldings. In addition to the manufacturing plants
in California and Florida, Burke also operates a distribution warehouse in Santa
Fe Springs, Calif. BurkeMercer products are sold by more than 200 wholesalers
nationwide. Burke’s Custom Process division operates out of the San Jose
facility and focuses on quality development, mixing and processing of rubber
formulations to a diverse group of customers from commercial to aerospace and
defense industries, concluded Pitman. For additional information on Burke and
its products, call 800/669-7010. —Louis Iannaco
