Financially Distressed Companies

The new owners of a longtime Baltimore manufacturing company are considering moving operations to a new plant, possibly in Delaware, an executive with the firm said.

The buyers of Hedwin Corp. are looking at sites in Maryland and Delaware, said Maurice LeCompte, an executive with the Hedwin division of Zacros America, Inc. the U.S. unit of the Japanese firm that purchased Hedwin in May. No decision has been made to move from the firm's Medfield plant, LeCompte said.

"If we do make a change, we will certainly announce it," he said. "Other than searching and rumors, nothing's been decided. … Everything is status quo."

Hedwin, which makes plastic...