Intermet exiting Chapter 11 as private entity

Nov 11, 2005 | 10:18 AM | Philip Burgert

Intermet Corp., Troy, Mich., which emerged from Chapter 11 after a court-approved reorganization plan became effective, said it will now shift into private hands.

Executives said that under the reorganization plan, the metal castings supplier's former common stock had been canceled and shares of new common stock were to be issued to the company's pre-petition unsecured creditors.....

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