Proliance Voluntarily Requests Delisting of Common Stock from NYSE Amex Exchange
July 02 2009 - 9:19AM
Business Wire
Proliance International, Inc. (NYSE Amex: PLI) today announced
that it has voluntarily requested the NYSE Amex Exchange to delist
its common stock from trading on the NYSE Amex Exchange. This
announcement follows the filing of voluntary petitions by the
Company and its U.S. subsidiaries today in the U.S. Bankruptcy
Court for the District of Delaware under Chapter 11 of the U.S.
Bankruptcy Code. The Company does not currently intend to relist
its common stock on another exchange as it expects there will be no
recovery to the common stockholders upon completion of the
bankruptcy process. The NYSE Amex Exchange had previously halted
trading of the Company�s common stock on June 24, 2009.
Forward Looking Statements
Statements included in this press release, which are not
historical in nature, are forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Statements relating to the future financial
performance or liquidity of the Company are subject to the effects
of the chapter 11 filings, business conditions and growth in the
general economy and automotive and truck business, the impact of
competitive products and pricing, changes in customer product mix,
failure to obtain new customers or retain old customers or changes
in the financial stability of customers, changes in the cost of raw
materials, components or finished products, the discretionary
actions of its suppliers and lenders, and changes in interest
rates. Such statements are based upon the current beliefs and
expectations of Proliance management and are subject to significant
risks and uncertainties. Actual results may differ from those set
forth in the forward-looking statements. When used in this press
release, the terms "anticipate," "believe," �efforts,� "estimate,"
"expect," �goal,� "may," "objective," "plan," "possible,"
"potential," "project," �proposal,� �pursue,� "will" and similar
expressions identify forward-looking statements.
Additional factors that could cause Proliance's results to
differ materially from those described in the forward-looking
statements include the effects of the financial crisis and turmoil
in the capital markets, developments in the chapter 11 cases, the
global recession and other factors identified in Proliance�s 2008
Annual Report on Form 10-K and Proliance's other subsequent filings
with the SEC. The forward-looking statements contained in this
press release are made as of the date hereof, and Proliance does
not undertake any obligation to update any forward-looking
statements, whether as a result of future events, new information
or otherwise.
About Proliance International, Inc.
Proliance International, Inc. is a leading global manufacturer
and distributor of aftermarket heat transfer and temperature
control products for automotive and heavy-duty applications serving
North America, Central America and Europe.
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