TVI Corporation Chapter 11 Reorganization Plan Approved
CHICAGO, Dec. 14 /PRNewswire/ — Gerald P. Buccino, Chairman and CEO is pleased to announce that the Chapter 11 Reorganization Plan of TVI Corporation and its wholly owned subsidiaries, CAPA Manufacturing Corp., Safety Tech International, Inc. and Signature Special Event Services, Inc. (collectively, the “Company”) was approved by Judge Thomas Catliota, United States Bankruptcy Court, District of Maryland, Greenbelt Division on December 8, 2009. Buccino & Associates, Inc. served as Financial Advisor to the Company.
As part of the Plan of Reorganization, the assets of Signature Special Event Services, Inc. were sold to a third party buyer and the assets and businesses of TVI Corporation and Safety Tech International, Inc. were merged to create a new entity Immediate Response Technologies, Inc. (“IRT”). IRT remains headquartered in Glenn Dale, Maryland. The project was led and managed by Christopher L. Picone, Managing Director and by Gerard Buccino, Director.
IRT President and Chief Executive Officer Lt. Gen. Harley A. Hughes, USAF (RET.) stated that the Buccino team’s support, advice and guidance were critical to TVI/IRT’s successfully emerging from Chapter 11 in less than nine (9) months. Typical Chapter 11 cases of this size generally take longer to complete. General Hughes also stated that he believes that Buccino & Associates have established a standard of excellence for others to aspire to equal. Thanks to the assistance and expertise of the Buccino team, IRT is now more properly positioned to achieve its true growth potential in the markets that it serves.
IRT designs, manufactures and supplies Decontamination, Command and Control, Airborne Infection Isolation, and Mobile Surge Capacity Shelters, Systems and Accessories including generators, trailers and water heaters. IRT also offers a complete line of NIOSH approved Powered Air Purifying Respirators (PAPR), with multiple headpiece and other filter cartridge options. IRT products serve a variety of markets, including the first responder, fire, law enforcement, healthcare/first receiver, government, military, industrial and commercial.
For more information about IRT see www.imresponse.com
About Buccino & Associates Inc.
Founded in 1981, Buccino & Associates, Inc. is one of America’s premier strategic and financial consulting firms providing clients comprehensive advisory services designed to enhance cash flow and position companies for long-term profitability. Services include strategic and financial assessment of business operations; turnaround consulting; financial advisory services to lenders, creditors and other economic stakeholders; crisis and interim management; valuation; real estate ; insolvency and reorganization services; corporate restructuring; forensic analysis; litigation support and expert testimony. Buccino & Associates, Inc. has offices in Chicago and New York.
For more information about Buccino & Associates, Inc. see www.buccinoassociates.com.
SOURCE TVI Corporation