New Business Initiatives Planned NEW YORK, July 24
NEW YORK, July 24 /PRNewswire/ -- Patriarch Partners is pleased to
announce that, effective July 24, 2008, American LaFrance, LLC, the 175 year
old manufacturer of fire, rescue and vocational vehicles, emerged successfully
from its Chapter 11 bankruptcy. Concurrent with its emergence from
bankruptcy, American LaFrance has announced a significant restructure of its
business and a transformation of organization, processes and a segregation of
facilities to better serve its product lines in domestic and global markets.
In a major effort to improve profitability, timely delivery and to create
room for soon to be announced new ventures, the fire business will be moved
from Summerville, SC to the American LaFrance facilities in Ephrata, PA and
Hamburg, NY, according to American LaFrance. Summerville will remain the
center of excellence for commercial cab and chassis models including chassis
manufactured for the fire, refuse and construction markets (street sweepers,
refuse haulers, concrete pumpers etc).
"American LaFrance management is currently completing documentation for
exciting new business ventures," said Patriarch Chief Executive Lynn Tilton.
"These initiatives are instrumental to the decision to rationalize facilities
and processes for anticipated ramp of new lines of production. The Company
also plans to significantly broaden its focus beyond domestic borders into the
global market," Tilton added.
SOURCE Patriarch Partners
