Hedwin Corp. will be auctioned off Friday as two bidders vie for the Baltimore maker of plastic containers.
The company — which sought Chapter 11 bankruptcy protection last month — received a qualified bid from New Jersey-based Inteplast Group, according to attorney Alan Grochal, who represents Hedwin.
Inteplast, which makes plastic products, declined to comment.
The initial bidder is Fujimori Kogyo Co., a Japanese company that offered $16.5 million for Hedwin and indicated that it intends to retain all 300 employees. It was unclear Tuesday how Inteplast would handle the Baltimore jobs if it is the successful bidder.
"I think from Hedwin's standpoint, either one [of the bidders] will be a significant positive development for the company and the employees," said Grochal, who heads the bankruptcy and creditors' rights department at the Baltimore law firm Tydings & Rosenberg.