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Contec Exits Chapter 11

November 05, 2012 |

SCHENECTADY, N.Y. -- Contec Holdings, LTD, (“Contec” or the “Company”) the market leader in repair and refurbishment of customer premise equipment for the cable industry, today announced that it has successfully completed its restructuring and has emerged from chapter 11 effective November 2, 2012 with significantly reduced long term debt and incremental liquidity.

“We entered into this court process with a specific set of goals. Most importantly, continuing to serve our customers on an uninterrupted basis while we restructured our debt,” said Larry Young, Interim Chief Executive Officer of Contec. “In an extremely short period of time, we were able to reduce our long term debt and position Contec for expansion over the coming years,” continued Young. “All of this, in approximately 60 days, without impacting the relationships we have with our customers, vendors or employees. Contec has a lot to be proud of and on behalf of our management team; we’d like to thank our dedicated employees for helping to make this a seamless process.”

Contec Holdings Ltd.


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