Attached files
| file | filename |
|---|---|
| EX-99.1 - PDF OF 10/20/2009 PRESS RELEASE - NTK Holdings, Inc. | pr102009.pdf |
| EX-99.2 - PDF OF 10/22/2009 PRESS RELEASE - NTK Holdings, Inc. | pr102209.pdf |
| 8-K - NTK HOLDINGS 8-K - NTK Holdings, Inc. | ntkh102209_8k.htm |
| EX-99.2 - 10/22/2009 PRESS RELEASE - NTK Holdings, Inc. | pr102209.htm |
Richard L. Bready,
Chairman and CEO
Edward J. Cooney,
Vice President and Treasurer
(401)
751-1600
IMMEDIATE
NTK
HOLDINGS, INC. AND NORTEK, INC.
ANNOUNCE
RESULTS OF SOLICITATION OF VOTES
FOR
PREPACKAGED PLAN OF REORGANIZATION
PROVIDENCE, RI,
October 20, 2009—NTK Holdings,
Inc. (“NTK”) and
Nortek, Inc. (“Nortek“ and, together with
NTK, the “Companies”)
today announced that the Companies have received votes accepting their
prepackaged plans of reorganization (the “Prepackaged Plan”) from all voting
classes of Nortek
creditors and one voting class of NTK creditors.
The Companies also
announced that they have agreed with certain of their creditors to briefly
extend the deadline before which they are to commence their Chapter 11
cases.
The Companies are
continuing to move forward with their anticipated restructuring and eventual
confirmation of the Prepackaged Plan, as previously announced.
Nortek (through its
subsidiaries) is a leading diversified global manufacturer of innovative,
branded residential and commercial ventilation, HVAC and home technology
convenience and security products. Nortek offers a broad array of
products including: range hoods, bath fans, indoor air quality systems, medicine
cabinets and central vacuums, heating and air conditioning systems, and home
technology offerings, including audio, video, access control, security and other
products.
This
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. When used in this discussion
and throughout this document, words, such as "intends", "plans", "estimates",
"believes", "anticipates" and "expects" or similar expressions are intended to
identify forward-looking statements. These statements are based on Nortek's
current plans and expectations and involve risks and uncertainties, over which
Nortek has no control, that could cause actual future activities and results of
operations to be materially different from those set forth in the
forward-looking statements. Important factors that could cause actual future
activities and operating results to differ include the availability and cost of
certain raw materials, (including,
among others, steel, copper, packaging materials, plastics and aluminum) and
purchased components, the level of domestic and foreign construction and
remodeling activity affecting residential and commercial markets, interest
rates, employment, inflation, foreign currency fluctuations, consumer spending
levels, exposure to foreign economies, the rate of sales growth, price, product
and warranty liability claims, any amendments to the Plan of Reorganization,
whether or not the Plan of Reorganization is confirmed by the bankruptcy court,
and whether or not Nortek and its domestic subsidiaries conclude their chapter
11 cases in the anticipated timeframe or at all. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date hereof. Nortek undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise. All subsequent written and oral forward-looking statements
attributable to Nortek or persons acting on its behalf are expressly qualified
in their entirety by these cautionary statements. Readers are also urged to
carefully review and consider the various disclosures made by Nortek, herein, as
well as its periodic reports on Forms 10-K, 10-Q and 8-K, filed with the
Securities and Exchange Commission.
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