{{Short description, US company Pyro-Magnetics Corporation was a Whitman, Massachusetts based manufacturer of industrial furnaces. The business produced a processor for disposing hazardous wastes. The product's technical requirements were approved by the

Environmental Protection Agency A biophysical environment is a biotic and abiotic surrounding of an organism or population, and consequently includes the factors that have an influence in their survival, development, and evolution. A biophysical environment can vary in scale f ...

in June 1982.''Pyro-Magnetics Processor'', Wall Street Journal, June 23, 1982, pg. 24.

Insolvency

In late 1982 the corporation sold its two operating units to pay debts and after the sale few of its employees remained. The Pyro-Magnetics Corporation filed for Chapter 7 bankruptcy at a federal bankruptcy court in Whitman, in April 1983. Prior to this the firm embarked on an unsuccessful attempt to raise cash by developing commercial applications for its high-temperature melting technology. It failed to have enough funds to prepare and file an

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with the

Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...

in the spring of 1983. The Pyro-Magnetics Corporation reported a loss of $71,093 in the first quarter of 1982 compared to an annual loss of $198,862 for the entire year of 1981.''Pyro-Magnetics Corp. Files for Chapter 7 Of Bankruptcy Code'', Wall Street Journal, April 19, 1983, pg. 45.

References

Manufacturing companies disestablished in 1983 Companies that filed for Chapter 7 bankruptcy in 1983 Companies that have filed for Chapter 7 bankruptcy Defunct manufacturing companies based in Massachusetts Waste management companies of the United States