Feb. 4, 2010 – Arch Aluminum & Glass has announced that it has emerged from Chapter 11 bankruptcy protection. This follows the asset purchase by Arch Glass Acquisition Corp., an affiliate of Sun Capital Partners, in a $53.8 million cash deal.
Feb. 4, 2010 – Arch Aluminum & Glass has announced that it has emerged from Chapter 11 bankruptcy protection. This follows the asset purchase by Arch Glass Acquisition Corp., an affiliate of Sun Capital Partners, in a $53.8 million cash deal.
“We are investing out of a $5 billion fund so we have plenty of liquidity, and we view this as a good opportunity,” said Aaron Wolfe, principal with Sun Capital.
As reported in Glass Canada, Arch Aluminum & Glass had entered bankruptcy in November.
"We are excited to be exiting from the bankruptcy process and we look forward to the next chapter in the history of Arch," says Leon Silverstein, Arch's president and chief executive officer. "We are extremely grateful to our customers who stood by us and our vendors who supported us throughout the process. There's no question this is a challenging economic environment, but Arch is now stronger to be able to provide the best products, quality and service to the glass and glazing industry. We feel it is important that we treat our customers as one of our most important assets. We know in today's climate our own customers might need that same help and understanding that we received. Loyalty and relationship still exist in business today and we are an example of that."
Arch has 1700 employees and 28 locations throughout North America.
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