Collins & Aikman Announces Postponement of Proposed Notes Offering Due to Adverse Market Developments
07 Mayo 2004 - 1:40PM
PR Newswire (US)
Collins & Aikman Announces Postponement of Proposed Notes
Offering Due to Adverse Market Developments TROY, Mich., May 7
/PRNewswire-FirstCall/ -- Collins & Aikman Corporation , today
announced that its wholly owned subsidiary, Collins & Aikman
Products Co. ("Products"), has postponed its previously announced
proposed notes offering in light of material adverse changes in
prevailing U.S. Treasury and high yield market conditions. Products
will correspondingly postpone its efforts to amend and restate its
senior credit facilities. Products will continue to monitor and
assess market conditions. Cautionary Statement Regarding
Forward-looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from the anticipated results because of certain risks
and uncertainties, including but not limited to general economic
conditions in the markets in which the Company operates, dependence
on significant automotive customers, pricing pressure from
automotive customers, the level of competition in the automotive
supply industry, the need to finance significant up-front costs to
secure new business, reliance on the continued availability of
certain arrangements for liquidity, fluctuations in the production
of vehicles for which the Company is a supplier, changes in the
popularity of particular car models or particular interior trim
packages, changes in consumer preferences, the loss of programs on
particular interior trim packages, labor disputes involving the
Company or its significant customers, the substantial leverage of
the Company and its subsidiaries, limitations imposed by the
Company's debt facilities, charges made in connection with the
integration of operations acquired by the Company, the
implementation of the reorganization plan, risks associated with
conducting business in foreign countries and other risks detailed
from time to in Collins & Aikman Corporation's Securities and
Exchange Commission filings. Forward-looking statements speak only
as of the date they are made. The Company undertakes no obligation
to correct or update publicly any of them in light of new
information, future events or otherwise. DATASOURCE: Collins &
Aikman Corporation CONTACT: J. Michael Stepp, Vice Chairman &
Chief Financial Officer, +1-248-824-1520, , or Robert Krause, Vice
President and Treasurer, Head of Investor Relations,
+1-248-733-4355, , both of Collins & Aikman Corporation Web
site: http://www.collinsaikman.com/
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