[TowerTalk] Rohn Files Chap 11

[Cqtestk4xs at aol.com]

PEORIA, Ill., Sept. 16 /PRNewswire-FirstCall/ -- ROHN Industries, Inc., (OTC 
Bulletin Board: ROHN), (the "Company") a provider of infrastructure equipment 
to the telecommunications industry, announced today that the Company and five 
of its direct and indirect subsidiaries have filed voluntary petitions for 
Chapter 11 relief in the United States Bankruptcy Court for the Southern District 
of Indiana (the "Bankruptcy Court").

The Company also announced that, concurrent with the Chapter 11 filing, it 
has entered into a $9.5 million debtor-in-possession ("DIP") line of credit with 
the lenders that are party to the Company's Amended and Restated Credit 
Agreement, subject to the approval of the Bankruptcy Court, which will include 
funds that will be rolled forward from the Company's current credit facility. 
Subject to the provisions of the Bankruptcy Code, the Company remains in 
possession of its assets and properties, and continues to operate its business.  The 
Company said that the objective of the Chapter 11 proceeding is to maximize 
recovery to creditors by facilitating an orderly sale of assets. The Company is 
currently in discussions with an unrelated third party regarding a proposed sale 
of the assets of the Company.

Upon the filing of the bankruptcy petition of the Company, but following the 
approval by the Board of Directors of the Chapter 11 filing, Stephen Gorman 
and Jordan Roderick each have resigned from the Board of Directors of the 
Company.  Currently, Horace Ward, the Chief Executive Officer of the Company, is the 
only remaining director of the Company.

Commenting on today's announcement, Mr. Ward said,  "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."

The Company has retained the Indianapolis law firm of Ice Miller to act as 
its legal counsel in the bankruptcy proceedings.  The Company has also retained 
Silverman Consulting, a national turnaround consulting firm.