MSL To Acquire MCMS

Simultaneously, MCMS announced that it, and its two U.S. subsidiaries, have voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in Wilmington to implement the sale. During the bankruptcy process, MCMS will h...

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Bibliographic Details
Published inBusiness Wire p. 1
Main Author Business Editors
Format Newsletter
LanguageEnglish
Published New York Business Wire 18.09.2001
Subjects
Acquisitions & mergers
Bankruptcy
Electronics manufacturing services
Employees
Federal courts
Foreign subsidiaries
Manufacturers
OEM
Printed circuit boards
San Jose California
United States > US
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Summary:Simultaneously, MCMS announced that it, and its two U.S. subsidiaries, have voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in Wilmington to implement the sale. During the bankruptcy process, MCMS will have the opportunity to consider other offers for the operating assets. The Chapter 11 cases do not involve MCMS's foreign subsidiaries with the exception of its Belgium subsidiary, which filed for Judicial Composition on September 5, 2001 under the applicable laws of Belgium. The terms and conditions of the definitive agreement entered into between MCMS and MSL relating to the asset sale, including a purchase price of approximately $43.5 million, subject to certain adjustments and the assumption of certain liabilities, will be described in the Form 8-K to be filed by MCMS with the Securities and Exchange Commission.