EaglePicher Incorporated Completes Restructuring, Wolverine Expands into Diverse Market

EaglePicher Incorporated (EPI), and its U.S. subsidiaries, including EaglePicher Wolverine Gasket, successfully completed their Chapter 11 restructuring process. On August 1, 2006, pursuant to their confirmed plan of reorganization, substantially all the assets of EPI and its U.S. subsidiaries will be transferred to newly formed EaglePicher Corporation (EPC) and its subsidiaries. The assets of EaglePicher Wolverine Gasket will be transferred to Wolverine Advanced Materials, LLC (Wolverine).

EPC and its subsidiaries have entirely new ownership, principally Angelo, Gordon & Company and Tennenbaum Capital Partners. The name Wolverine Advanced Materials accurately reflects its diversification into specialty material solutions and enhances the strong brand recognition of Wolverine in the core markets served.

“Through our restructuring, we focused on our evolution from an automotive parts components supplier to a specialty materials company,” said Jay Pittas, president of Wolverine. “We feel it is important to have our company name represent our technology rather than a specific application. As Wolverine Advanced Materials, we are better positioned to pursue our material-based solutions in multiple vertical markets.”

Wolverine has U.S. facilities in Michigan, Florida and Virginia, as well as operations in Öhringen, Germany and Shanghai, China.  In addition to Wolverine, EPC’s other new operating companies are Hillsdale Automotive, EP Boron, EaglePicher Technologies, EP Medical Batteries, EP Pharmaceutical Services, and EP Minerals.

About Wolverine Advanced Materials

Wolverine Advanced Materials, an EaglePicher company, is a global supplier of rubber-coated steel composites for vibration damping and sealing. Wolverine produces and sells performance-critical, specialty materials used in gaskets for automotive & industrial applications; automotive brake noise insulators; and NVH (noise, vibration & harshness) damping solutions for automotive and consumer electronics applications. Wolverine Advanced Materials is headquartered in Inkster, Mich. For more information, visit www.eaglepicher.com, or EaglePicher on ifriction.com

Source: Eaglepicher Press Release