UNIDYNE Plans Reorganization
12 April 2000
UNIDYNE Plans ReorganizationKENOSHA, Wis., April 12 UNIDYNE Corporation (OTC-Bulletin Board: UDYN) today announced that it has begun the process of structuring a reorganization of its business in consultation with financial and legal professionals. The Corporation is reviewing various options in cooperation with its key lenders and suppliers. No corporate decision has been made with regard to reorganization under bankruptcy law. Any reorganization will involve careful consideration of all relevant factors including the best interests of the company's creditors, employees and stockholders. The Company expects to resume normal business operations as part of its reorganization efforts. Further information will be made available after the corporation has structured its reorganization strategy. Kenosha, Wis.-based UNIDYNE Corp. and its subsidiaries manufacture, sell, service and finance a variety of products, including vehicle emissions testing systems, specialized electric motors, and variable speed drives and controls. UNIDYNE also manufactures engine and chassis dynamometer testing systems for a variety of large industrial customers, primarily in the automotive and heavy equipment industries. The Company has facilities in Kenosha, Wis. and Exton, Pa. Statements made in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions ("Factors") that are difficult to predict. Some of the Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, the performance of the emissions testing industry, certain customer and affiliated companies, as well as other economic, competitive, governmental and technological factors involving the Company's operations, markets, services, products and prices, changes in and implementation of environmental and other governmental regulations, and other Factors disclosed in the Company's Annual Reports filed with the Securities and Exchange Commission. The forward-looking statements are made as of this date, and the Company undertakes no obligation to update them, whether as a result of new information, future events, or otherwise.