In documents filed with U.S. Bankruptcy Court in Wilmington, Del., Reichhold listed assets of between $ million and $ million and debts of between $ million and $1 billion. “All of. Chemical company Reichhold Inc. filed for Chapter 11 bankruptcy protection Tuesday after securing a pledge from its bondholders to fund its operations and purchase its business. Reichhold, whose US business filed for Chapter 11 bankruptcy protection in September last year, earlier on Thursday announced an asset purchase and debt-equity swap deal with bondholders, allowing the company to emerge from bankruptcy. The former bondholders are now Reichhold’s new owners.
Chemical company Reichhold Inc. The bondholders have also agreed to serve as stalking horse, or lead bidder, in a court-overseen auction of Reichhold's U. Both the financing and auction proposals are subject to the approval of the U. Bankruptcy Court in Wilmington, Del. Reichhold's U. The bankruptcy filing doesn't include Reichhold's affiliates outside of the U. Durham, N. Its unsaturated polyester resins for composites are used in products ranging from bathtubs to wind turbine blades.
For example, Poly-lite, one of Reichhold's products, is used to repair windshields. We have emerged from this process even more capable of developing and delivering the innovative products and services that our customers value. Our new products continue to gain traction in the marketplace, and we continue to deliver innovation which serves unfilled needs in our industry.
With the support of our new owners, key stakeholders, advisors and the hard work and commitment of our employees, we are pleased that we have successfully navigated this process in a very short time period while operating our business as usual and without interruption. For calls originating outside the U. Third Avenue adheres to a disciplined bottom-up value investment strategy to identify investment opportunities in undervalued securities of companies with high quality assets, understandable businesses and strong management teams that have the potential to create value over the long term.