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AMTROL Inc. Files for Voluntary Chapter 11 Reorganization.

Publication: Business Wire
Publication Date: 19-DEC-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Holders of More than Two-Thirds of the Company's Senior Subordinated Notes Have Agreed in Principle to Convert Notes to Equity

$115 Million Debtor-In-Possession Financing Commitment from Barclays Capital Will Support Normal-Course Operations

Financial Restructuring Anticipates that All Pre-Filing Trade Liabilities Will Be Paid In Full

The Company Will Emerge from Reorganization with Substantially Less Debt and Greatly Improved Long-term Financial Stability

Foreign Operations (including Canada) Are Not Impacted

WEST WARWICK, R.I. -- AMTROL Inc. announced that it and certain affiliated companies filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code on December 18, 2006. AMTROL took this action to...

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