Meridian Automotive Systems Files an Amended Plan of Reorganization and Disclosure Statement
ALLEN PARK, Mich., Sept. 8 -- Meridian Automotive Systems, Inc. today announced that it has filed a Fourth Amended Plan of Reorganization ("Plan") and Disclosure Statement with the United States Bankruptcy Court for the District of Delaware. A hearing to approve the Disclosure Statement is scheduled for October 10, 2006.
Richard E. Newsted, Meridian's President and CEO, said, "We are pleased to continue the confirmation process with the Bankruptcy Court. The Company's emergence from Chapter 11 pursuant to our Plan with less debt and increased liquidity will generate increased customer, supplier and employee confidence and contribute to our long-term success in the automotive industry."
About Meridian Automotive Systems, Inc.
Meridian Automotive Systems is a leading supplier of technologically advanced front and rear end modules, exterior thermoplastics and composites, lighting and interior systems to automobile and truck manufacturers. Meridian operates 20 plants in the United States, Canada and Mexico, supplying Original Equipment Manufacturers and major Tier One parts suppliers.
This news release contains forward-looking statements based on current assumptions and forecasts made by Meridian Automotive Systems management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future consolidated results, financial situation, development or performance of the company, and the estimates given here. The company assumes no liability to update such forward-looking statements or to adapt to future events or development.