Subject: [NEXTEL-1] ROHN FILES FOR CHAPTER 11 BANKRUPTCY

From: [email-masked]
Date: Sat, 27 Sep 2003 07:27:37 -0400

From: "ARRL Letter Mailing List"
Date: Fri, 26 Sep 2003 19:00:16 -0400
Subject: The ARRL Letter, Vol 22, No 38

***************
IN THIS EDITION:

==>ROHN FILES FOR CHAPTER 11 BANKRUPTCY

Rohn Industries <http://www.rohnnet.com/> filed a voluntary petition for
Chapter 11 bankruptcy September 16 in the US Bankruptcy Court for the
Southern District of Indiana. The best-known manufacturer of tower and
tower hardware for the Amateur Radio community, the Peoria,
Illinois-based
company manufactures towers, antenna support structures and
"infrastructure equipment" for the telecommunications industry. In
business since 1948, the firm also makes security fencing and provides
design and construction services.

"Our immediate goal is to stabilize the company's financial situation and
utilize the Chapter 11 process to enable the company to conduct normal
business operations as the company works to complete a sale transaction,"
Rohn Industries President Horace Ward said in announcing the company's
bankruptcy filing. Rohn says it's now in discussions with an unrelated
third party regarding a proposed asset sale while it continues to conduct
business as usual. Ward told ARRL there is "no truth" to a rumor
circulating on some Internet newsgroups that disgruntled workers had
damaged manufacturing equipment beyond repair in reprisal for
consolidating fabrication facilities last January into a single plant in
Frankfort, Indiana.

The impact of Rohn's troubles on the Amateur Radio community is not
clear,
but at least one major antenna products supplier reported earlier this
summer that it was having problems getting Rohn products, although it
continues to offer them. Ward told ARRL this week that Rohn intends "to
execute the orders we have and to continue to take orders in the normal
course of business."

In the company's statement, Ward attributed the bankruptcy filing to a
severe downturn in the telecommunications industry. In July, NASDAQ
delisted Rohn Industries after it was unable to meet its minimum bid
price
requirement. The company remains eligible for listing on the Over the
Counter (OTC) Bulletin Board (OTC-BB: ROHN). During the past 52 weeks,
the
company's stock has sold for as little as a penny a share.

At the same time it filed for Chapter 11 protection, Rohn has announced
it's entered into a $9.5 million debtor-in-possession credit line with
its
lenders. The bankruptcy court must approve that agreement.

===========================

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