Earlier this month, Casey released a report exposing how private equity machinations have culminated in decision to close Charleroi Pyrex plant
Casey called for federal investigation into the shady business dealings and injunction to protect PA workers
Washington, D.C. – Today, U.S. Senator Bob Casey released the following statement after a federal district court issued a temporary restraining order against Anchor Hocking at the request of Pennsylvania Attorney General Michelle Henry, temporarily blocking the closure of the Charleroi Pyrex plant pending a formal hearing. Last month, Casey released a report exposing how questionable financial engineering and shady business deals by a private equity firm had culminated in the decision to close the plant, and urged officials to block the plant closure pending a full investigation into the matter.
“Charleroi has a generational legacy of glass manufacturing, and the plant’s closure would be a slap in the face to the workers, their community, and the people of Pennsylvania,” said Senator Casey. “It’s clear that enforcement agencies must continue to investigate the shady business dealings and private equity machinations that have culminated in this attempted closure. This is a temporary measure, but it is an important first step and I’m thankful to the Attorney General’s office for taking this action. I will continue working every day to protect union jobs and hold Wall Street executives accountable for the havoc they are wreaking in our Commonwealth.”
Immediately upon learning of Anchor Hocking’s plans to close the plant on September 5th, Senator Casey’s office reached out to the plant’s union leadership and Charleroi Borough officials, connecting them with federal and state authorities. Casey’s office also helped convene a task force of county commissioners, borough officials, and local economic development leaders. Casey’s staff also alerted the White House Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization to the situation, leading to several federal officials visiting Charleroi on September 11th. On September 19th, Senator Casey sent a letter to Anchor Hocking demanding an explanation for the closure and imploring the company to reconsider its actions. On September 20th, Senator Casey and Senate Finance Committee Chair Senator Ron Wyden successfully requested a joint confidential briefing with the Federal Trade Commission (FTC) on questions concerning Anchor Hocking’s assumption of control of the Pyrex manufacturing operation in Charleroi.
On October 18, Casey released a report, Charleroi, PA: An Example of How Private Equity is Shattering the Glass Industry and Leaving Workers Behind, which exposed the questionable financial engineering and shady business deals that culminated in Centre Lane’s recent decision to close the plant, leaving its workers as collateral damage. In the report and a follow up letter to FTC Chair Lina Khan, Casey called on the Federal Trade Commission (FTC) and Department of Justice (DOJ) to take action to block the plant closure pending the outcome of a full investigation into the private equity firm for its efforts to potentially evade regulatory rules, strip the plant bare, and lay off Pennsylvania workers. In addition to his efforts at the federal level, Senator Casey has also been in touch with state officials in Pennsylvania to advocate for state action that could prevent the plant closure pending a full investigation into these concerns.
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