American LaFrance Confirms Plan of ReorganizationLooks Forward to Emergence from Bankruptcy
SUMMERVILLE, S.C., May 23 /PRNewswire/ -- American LaFrance, LLC (the "Company" or "ALF") announced today that Judge Brendan L. Shannon entered the Order confirming ALF's Chapter 11 Plan of Reorganization ("Plan") allowing the Company to emerge from bankruptcy. The Company has been in bankruptcy for fewer than 17 weeks and is emerging with almost 90% of its creditors supporting its Plan. Lynn Tilton, CEO of Patriarch Partners, stated, "This is just another milestone in the long history of this epic 175-year-old manufacturing company. With many of its legacy difficulties now in its past, this great American legacy is prepared to move forward continuing its build of some of the best known truck brands in the industry. By having obtained an extension of $40 million of new credit in connection with its exit from bankruptcy, ALF is in a strong financial position to well service its customers." American LaFrance, LLC, through its predecessor entities, is one of the oldest fire, rescue, and EMS vehicle manufacturers in the United States, dating back to its founding in 1832. The Company operates eight manufacturing/servicing facilities and two company-owned vehicle dealerships.
For Further Information Contact
William K. Snyder
Chief Restructuring Officer
843-486-7502
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