News
TEMPE, AZ -- Three-Five Systems Inc.
has filed a joint plan of
reorganization with its wholly owned subsidiary, TFS-DI Inc.
in their respective bankruptcy cases.
The plan proposes a reorganization of both companies into a single post-bankruptcy entity.
If approved, the reorganized TFS's operations will be limited to the liquidation and monetization of all its non-cash assets. These assets comprise the cash and non-cash assets of the two companies, which will be substantively consolidated under the plan, TFI said in a filing.
The company anticipates that sufficient cash will exist in the consolidated estate on the plan's effective date to pay all claims of all creditors in all classes and that there will be final cash distributions to company shareholders.
The plan proposes a reorganization of both companies into a single post-bankruptcy entity.
If approved, the reorganized TFS's operations will be limited to the liquidation and monetization of all its non-cash assets. These assets comprise the cash and non-cash assets of the two companies, which will be substantively consolidated under the plan, TFI said in a filing.
The company anticipates that sufficient cash will exist in the consolidated estate on the plan's effective date to pay all claims of all creditors in all classes and that there will be final cash distributions to company shareholders.
NORTH BILLERICA, MA -- BTU International Inc. has decided on Shanghai as its new Asia-Pacific headquarters.
The company also named Boris Mathiszik director of sales for the Asia-Pacific region. Mathiszik was vice president, x-ray inspection at Phoenix/X-ray Systems.
The company also named Boris Mathiszik director of sales for the Asia-Pacific region. Mathiszik was vice president, x-ray inspection at Phoenix/X-ray Systems.
ELM CITY, NC – Following a late December fire that devastated its manufacturing plant, Fawn Electronics has relocated into a temporary site in Wilson, NC, where it is performing final integration while working feverishly to reestablish full production.
Early in the morning of Dec. 22, fire ripped through the company's plant in Elm City, destroying much of it. The fire has been ruled accidental. Work has been subcontracted while the new site is brought online.
Early in the morning of Dec. 22, fire ripped through the company's plant in Elm City, destroying much of it. The fire has been ruled accidental. Work has been subcontracted while the new site is brought online.
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