J.L. French Receives Court Approval of Disclosure Statement
SHEBOYGAN, Wis.--May 12, 2006--J.L. French Automotive Castings, Inc., a privately-held, leading global supplier of high pressure die-cast aluminum automotive components and assemblies, today received Court approval of its Disclosure Statement, thereby allowing the company to move forward with the final steps in its reorganization.Beginning May 17, 2006, the company will begin soliciting acceptance of the Plan of Reorganization from impaired classes of creditors. All votes will be due by June 14, and the rights offering will commence within a week thereafter. Concurrently with the solicitation of plan acceptances, the company will also conduct its rights offering, which will raise between $110 and $130 million. The company anticipates a confirmation hearing on June 21 with a plan effective date on or about June 30.
Founded in 1968, J.L. French Automotive Castings, Inc., based in Sheboygan, Wisconsin, is a leading global designer and manufacturer of highly engineered aluminum die cast automotive parts including oil pans, engine front covers, engine blocks and transmission cases. The company employs more than 1800 people in its ongoing operations worldwide.
Additional information about the company's reorganization may be found online in the news section of www.jlfrench.com or on www.bmcgroup.com/jlfrench.