CRT glass manufacturer Techneglas has filed for Chapter 11 bankruptcy on 1 September 2004 after abruptly closing its Columbus, Ohio plant in early August, laying off 382 workers. The company said in filings in the US Bankruptcy Court in Columbus that its debts to its 20 largest creditors total US $50.2M, including US $48.9M to two Japanese banks, the Bank of Tokyo-Mitsubioshi and Sumitomo Mitsui Banking Corp. Techneglas was the largest manufacturer of TV glass in N America before announcing in August that it was shutting its plants in Columbus and Pittston, PA. Workers have been cleaning up the plants and preparing inventory for sale. The firm is owned by Nippon Electric Glass Co., of Japan. Cheap foreign competition is blamed. In total, 1,100 workers have lost their jobs.
