US Chapter 11 Filing


 

TIDMENN 
 
RNS Number : 8704N 
Ennstone PLC 
25 February 2009 
 

Ennstone plc 
("Ennstone" or the "Group") 
 
 
Ennstone, Inc. Chapter 11 Filing 
 
 
On 25 February 2009, the Board of Ennstone plc was informed by the directors of 
Ennstone, Inc., the Group's wholly-owned US subsidiary, that Ennstone, Inc. had 
filed for protection from its creditors under Chapter 11 of the United States 
Code (the "Bankruptcy Code"). As a consequence, the affairs of Ennstone, Inc. 
will now be managed in accordance with the provisions of the Bankruptcy Code. 
 
 Although the holding company of the group, Ennstone plc, has certain 
contingent liabilities in relation to the business of Ennstone, Inc., neither 
the Group's UK nor Polish businesses have any such liabilities or any trading 
relationship with the Group's US operations and they continue to operate as 
normal. 
 
 The Group's UK businesses, Ennstone Johnston and Ennstone Thistle, along 
with its Polish subsidiary Ennstone Sp. z o.o., have continued to perform 
satisfactorily in the difficult trading environment.  These operations are 
expected to have sufficient cash headroom through to the end of March 2009, on 
the basis of the on-going support of the UK and Polish lenders and finance lease 
providers, and the Group continues to work towards an agreed restructuring with 
its UK lenders within such timeframe which it is anticipated will secure the 
future of the UK and Polish trading companies. 
 
 A further announcement will be made in due course. 
 
 
Enquiries: 
 
 
+------------------------------------+------------------------------------+ 
| Ennstone plc                       |                      01332 694 444 | 
| Julian Cooper/Vaughan McLeod       |                                    | 
+------------------------------------+------------------------------------+ 
|                                    |                                    | 
| Altium                             |                      0161 831 9133 | 
| Adrian Reed                        |                                    | 
|                                    |                                    | 
+------------------------------------+------------------------------------+ 
| College Hill                       |                      0207 457 2020 | 
| Mark Garraway                      |                                    | 
+------------------------------------+------------------------------------+ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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