Auto Service World
News   January 2, 2007   by Auto Service World

Meridian Emerges From Chapter 11


Meridian Automotive Systems, Inc. announced that its Plan of Reorganization, previously confirmed by the United States Bankruptcy Court for the District of Delaware, has now become effective and that Meridian has emerged from Chapter 11. The Company also announced, in connection with their emergence from Chapter 11, it has entered into a $167 million exit financing facility with Deutsche Bank.
Richard E. Newsted, Meridian’s President and CEO, said, “This is an exciting day for Meridian Automotive Systems. We are pleased to have successfully completed our restructuring and to emerge as a stronger company with significantly less debt and increased liquidity, two factors which will contribute to our long-term success in the automotive industry. I would like to again thank all of the Meridian associates for their hard work and our valued customers, suppliers and creditors for their unwavering support during our reorganization.”
Meridian Automotive Systems is a supplier of technologically advanced front and rear end modules, exterior thermoplastics and composites, lighting and interior systems to automobile and truck manufacturers.
Meridian operates 21 primary facilities in the United States, Canada, Mexico and Brazil supplying Original Equipment Manufacturers and major Tier One parts suppliers.


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