[TowerTalk] Rohn Bankruptcy

[Cqtestk4xs at aol.com]

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 Chapter 
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 asset 
sale and authority to sell the assets "after an opportunity is provided for 
competitive bidding." 

The bankruptcy court has scheduled a hearing to consider proposed bid 
procedures November 25, and the bidding auction is set for December 8. The bankruptcy 
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").