ROHN - Jim, take a look at this unusual stock.
The chart itself looks like a down spiral - but
take a look at the OBV and Money flow..
It's at 11 cents today, with a book of $ 1.04 according
to BigCharts.
I put less than $ 200 in it awhile back as a lottery
ticket. See what you think.
This seems like an unusual situation:
ROHN's majority stockholder, the UNR Asbestos-Disease Claims Trust, approved the transfer of assets.
In connection with the transfer of assets, ROHN and its bank lenders entered into an amended bank credit facility. The amended credit facility provides for a one-year revolving credit facility for ROHN's continuing operations, the repayment of the term loans under the credit facility on June 30, 2003, and more flexible financial covenants that do not take effect until April 1, 2003.
ROHN also announced today that it has closed the previously announced sale of its facilities located in Casa Grande, Arizona. This transaction resulted in net proceeds to ROHN of approximately $2.6 million.
Horace Ward, ROHN's Chief Executive Officer, said, "These transactions allow the Company to put a difficult period behind it. The asset transfer and sale of the facilities located in Casa Grande, Arizona resulted in a $10 million reduction in the Company's debt and tax benefits that the Company expects to realize as a result of the transaction should allow the Company to repay a substantial amount of its obligations to its creditors. The Company looks forward to consolidating its operations at its facilities in Frankfort, Indiana and continuing to service its customers."
ROHN Industries, Inc. is a manufacturer and installer of telecommunications infrastructure equipment for the wireless industry. Its products are used in cellular, PCS, radio and television broadcast markets. The company's products and services include towers, design and construction, poles and antennae mounts. ROHN has ongoing manufacturing locations in Peoria, Illinois and Frankfort, Indiana along with a sales office in Mexico City, Mexico. |
