ROHN Industries Announces Asset Purchase Agreement
Nov 18, 2003--Telecommunications industry tower manufacturer ROHN Industries
has announced that it's entered into an asset purchase agreement with SPX
Corporation, a global, multi-industry company. ROHN filed September 16 for
11 (debtor-in-possession) relief in the US Bankruptcy Court for the Southern
District of Indiana. The deal will include ROHN subsidiaries that are party to
the bankruptcy proceeding.
"The asset purchase agreement provides for the sale of certain assets of the
company and the affected subsidiaries to SPX Corporation for the amount of
$5,450,000," ROHN said in a news release.
Through its Broadcast and Communication Systems and Services division, SPX
provides analog and digital TV and FM systems, high-frequency and
medium-frequency antennas, transmission lines, towers and radio frequency
filter systems for
the broadcast market. SPX also is a major site developer for the PCS/cellular
industry. Its brands include Dielectric, Central Tower, TCI, Flash
Technology, Brookstone Telecommunications and FLEXLine.
The bankruptcy court must approve the ROHN-SPX agreement. ROHN filed an
amended motion with the court November 13 seeking the court's approval of the
sale and authority to sell the assets "after an opportunity is provided for
The bankruptcy court has scheduled a hearing to consider proposed bid
procedures November 25, and the bidding auction is set for December 8. The
court is to consider approval of the asset sale December 9.
ROHN is owned and operated by ROHN Industries, Inc, a publicly traded company
listed on the NASDAQ OTC (Over the Counter) Bulletin Board as "ROHN.OB."
Prior to December 1997, ROHN Industries Inc was known as UNR Industries Inc.
In addition to its other products and services, the Peoria, Illinois-based
company manufactures towers, antenna support structures and "infrastructure
equipment" for the telecommunications industry. Horace Ward is ROHN's chief
executive officer. The company has consolidated its manufacturing operations in
Frankfort, Indiana. ROHN was established in 1948 by Dwight Rohn of Peoria, who
began manufacturing towers for home television reception
More information on the proposed deal with SPX is available on the ROHN
Industries Web site (click on "Press Releases").
See: http://www.mscomputer.com for "Self Supporting Towers", "Wireless Weather
Stations", and lot's more. Call Toll Free, 1-800-333-9041 with any questions
and ask for Sherman, W2FLA.
TowerTalk mailing list