posted
Tell me what you guys think of this one. I know it's a bankrupt pinky but the news looks good. This traded on the Nasdaq before she went Ch11. OS 25M. 52 wk hi 9.10. At .14 now.
September 15, 2005 - 3:49 PM EDT AGCCQ 0.14 0.00
Today 5d 1m 3m 1y 5y 10y
Anchor Glass Receives Court Approval for DIP Financing Anchor Glass Container Corporation (Pink Sheets:AGCCQ) today announced that it has received final Bankruptcy Court approval for the issuance of $125 million of debtor-in-possession ("DIP") Senior Secured Term Notes provided by certain holders of its pre-petition Senior Secured Notes and agented by Wells Fargo Bank. The proceeds from these notes will be used to repay the existing pre- and post-petition credit facilities, with the balance to be used for working capital.
"This financing gives us the ability to fund our business plan, which includes making the capital improvements required to continue providing our customers with top quality and innovative products," said Mark Burgess, Anchor Glass' chief executive officer. "We are pleased with this financing as it reinforces our pre-petition Senior Secured Noteholders' commitment to Anchor Glass' employees, suppliers and customers."
About Anchor
Anchor Glass Container Corporation is the third largest manufacturer of glass containers in the United States. It has eight strategically located facilities where it produces a diverse line of flint (clear), amber, green and other colored glass containers for the beer, beverage, food, liquor and flavored alcoholic beverage markets.
Forward-Looking Statements
This press release includes forward-looking statements. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements. Forward-looking statements involve risks and uncertainties faced by the Company including, but not limited to, economic, competitive, governmental and technological factors outside the control of the Company that may cause actual results to differ materially from the forward-looking statements. These risks and uncertainties may include the outcome of the chapter 11 proceedings, the highly competitive nature of the glass container industry and the intense competition from makers of alternative forms of packaging; fluctuations in the prices for energy, particularly natural gas, and other raw materials; the Company's focus on the beer industry and its dependence on certain key customers; the seasonal nature of brewing and other beverage industries; volatility in demand from emerging new markets; the Company's dependence on certain executive officers; changes in environmental and other government regulations; and actions that may be taken by creditors and vendors. The Company operates in a changing environment in which new risk factors can emerge from time to time. It is not possible for management to predict all of these risks, nor can it assess the extent to which any factor, or a combination of factors, may cause actual results to differ materially from those contained in forward-looking statements. All forward-looking statements are subject to risks and uncertainties, including without limitation those identified in the Company's annual report on Form 10-K, which could cause actual results to differ from those projected. The Company disclaims any obligation to update any forward-looking statements.
Anchor Glass Container Corporation John Dubel, 813-884-0000
Source: Business Wire (September 15, 2005 - 3:49 PM EDT)
posted
This is ready to fly! great news. Coming out of bankruptcy!
October 07, 2005 11:44 AM US Pacific Timezone
Anchor Glass Container Corporation Enters into New Long Term Agreement with Snapple and Mott's
TAMPA, Fla.--(BUSINESS WIRE)--Oct. 7, 2005--Anchor Glass Container Corporation (Pink Sheets:AGCCQ) today announced that it has entered into a new long-term agreement with Snapple Beverage Corp. and Mott's LLP to continue to supply their glass requirements through the year 2008 for certain items in their product lines including Snapple, Yoo Hoo, Nantucket Nectars, Mistic and Mott's items.
"Completing this contract is an extremely important step in our restructuring process," said Mark Burgess, CEO of Anchor. "We are excited about continuing our relationship with this very important customer and look forward to supplying quality glass containers to Mott's and Snapple for the next several years."
About Anchor
Anchor Glass Container Corporation is the third largest manufacturer of glass containers in the United States. It has eight strategically located facilities where it produces a diverse line of flint (clear), amber, green and other colored glass containers for the beer, beverage, food, liquor and flavored alcoholic beverage markets.
Forward-Looking Statements
This press release includes forward-looking statements. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements. Forward-looking statements involve risks and uncertainties faced by the Company including, but not limited to, economic, competitive, governmental and technological factors outside the control of the Company that may cause actual results to differ materially from the forward-looking statements. These risks and uncertainties may include the outcome of the chapter 11 proceedings, the highly competitive nature of the glass container industry and the intense competition from makers of alternative forms of packaging; fluctuations in the prices for energy, particularly natural gas, and other raw materials; the Company's focus on the beer industry and its dependence on certain key customers; the seasonal nature of brewing and other beverage industries; volatility in demand from emerging new markets; the Company's dependence on certain executive officers; changes in environmental and other government regulations; and actions that may be taken by creditors and vendors. The Company operates in a changing environment in which new risk factors can emerge from time to time. It is not possible for management to predict all of these risks, nor can it assess the extent to which any factor, or a combination of factors, may cause actual results to differ materially from those contained in forward-looking statements. All forward-looking statements are subject to risks and uncertainties, including without limitation those identified in the Company's annual report on Form 10-K, which could cause actual results to differ from those projected. The Company disclaims any obligation to update any forward-looking statements.
Contacts
Glass Container Corporation Rick Kabaker, 813-884-0000
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posted
Watched this one run a little. Would have been nice for the quick buck. Think it'll gap on monday? Matt
Posts: 1504 | Registered: Sep 2004
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Anchor Glass Container Corporation is the third largest manufacturer of glass containers in the United States. It has eight strategically located facilities where it produces a diverse line of flint (clear), amber, green and other colored glass containers for the beer, beverage, food, liquor and flavored alcoholic beverage markets.
Posts: 352 | Registered: Jan 2005
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