GREENE – Maine Poly has been saved, again.

Resurrected after bankruptcy three years ago by Rumford native and New York businessman Kimball Dunton, the plastics company has gotten a new round of capital from the head of Bushmaster Firearms Inc. of Windham.

Dick Dyke said he and partner Yung Edwards from Las Vegas have invested $350,000, buying a majority interest.

After a dispute between the company and creditor GE Capital Inc., the Androscoggin County Sheriff’s Department put locks on Maine Poly Acquisition Corp.’s doors one day last week.

“We’re making our peace with everybody,” Dyke said Tuesday. That includes negotiating the GE equipment debt down to $1 million from $5 million.

He has also set up a payment plan on the more than $300,000 owed to the town in back taxes.

Maine Poly makes plastic bags and laminates. At the height of employment under JPB Enterprises, more than 200 people worked there. After an abrupt shutdown and bankruptcy, Dunton took over and hired about 40 people back.

New Chief Executive Officer Bob Bergeron said the company’s employees and its focus will stay the same. More people may be added in the next six months.

Dyke described Bergeron as “a treasure,” someone with 20 years’ experience in the plastic industry whom he lured up from Rhode Island.

A Wilton native, Dyke said the Maine Poly foray is either his “48th or 49th” business acquisition. He has been involved in companies around Maine – Bessey Motors in Norway, Allen Ford in Mexico, ChipCo. International in Raymond – as well as in Arizona and the West Indies.

He said his business style is to stay involved with a company for five years, then often sell his interest to the company’s management.

“You show me a deal, if I like it, if I can understand it, I’ll do it,” Dyke said.

He originally eyed Maine Poly during its bankruptcy in 2001, but judged it impossible to dig out of debt. The key for him will be restoring customer trust.

“I bet you there’s 150 to 170 customers” already on its roster, Dyke said. But they’re only placing 20 percent to 30 percent of their orders with Maine Poly. “They’ve been nervous about the company. … Customers haven’t been able to rely on a solid supplier.”

Jack Cashman, commissioner of the state’s Department of Economic and Community Development, said his office has converted a loan to Maine Poly of more than $100,000 into a grant under the new deal.

“Richard Dyke did a very good service for that area and stuck his neck out to help,” said Cashman. “Richard is the guy that saved the day.”

Town Manager Steve Eldridge said he was aware the company was struggling to meet commitments. “We felt confident they were in good hands from the beginning,” he said, ever since Dunton took it over.

Dunton will remain involved with the company. He and Dyke are friends.

“He’s a good guy, he’s been through hell,” said Dyke. “Everybody’s rooting for this little company.”