APW Emerges from Chapter 11
Sep 20, 2002 12:00 PM
APW completed its reorganization plan and has emerged from its voluntary Chapter 11 proceeding. The company's Plan of Reorganization, which was accepted by holders of its senior credit facilities, was confirmed by the U.S. Bankruptcy Court for the Southern District of New York in July. APW's balance sheet has been recapitalized through the conversion of approximately $585 million, or 85 percent, of its debt into equity. The company has also obtained a new $110 million working capital facility. APW is a Technically Enabled Manufacturing Services company that designs and manufactures large complex infrastructure products for OEMs in the communications, large enterprise hardware, and Internet markets.