18th November 2005 - American Remanufacturers Inc. CCT Facility Suddenly Closes

On Wednesday the 16th of November 2005 the Car Component Technologies plant in Bedford New Hampshire suddenly closed the facility.  Car Component Technologies is the remanufacturing car axle division of American Remanufacturers Inc that employed 500 workers.

American Remanufacturers Inc. has a Formation Meeting scheduled with the Delaware Bankrupcty Court at 10:00am on the 18th of November 2005 at the Federal Building in Wilmington Delaware.

American Remanufacturers filed for Chapter 11 Bankruptcy (case # 05-20022) with the Delaware Bankruptcy Court on the 7th of November 2005.  It declared total assets of $10M+ with total liabilities of $100M+.  The bankruptcy court listed major creditors as DDJ Capital Management, Interpel Corp., GCK Industrial USA, Rebuilders Auto Supply Co., Kotek America, Interparts Industrial, Lapco, The Recycler Core Co., M&M Knopf Auto Parts, Global Parts Source, GSP USA, Transanalysis, Wanxiang America Corp., Kurz Kasch, Three Cities Research, Coletta Core Company, Carquest Corporation, Brake Parts, U.S. Automotive Parts Group and Freudenberg-Nok.

About ARI

ARI is a privately held company that produces remanufactured automotive components that include "half shaft" axles, brake calipers, and steering components. ARI remanufactured parts are sold through various channels of distribution. Its U.S.-based subsidiaries include Car Component Technologies in Bedford, N.H.; Automotive Caliper Exchange in Anaheim, Cal.; ATSCO Products, Inc. of Phoenix, Ariz.; and Ohio Caliper, Inc. of Cleveland, Ohio. The company's Canadian operation, ABS Friction, Corp. located in Guelph, Ontario, Canada, produces aftermarket friction materials. ARI employs approximately 1,700 people at its various locations.

Source: Various Sources