Boonton Electronics Emerges From Chapter 11.PARSIPPANY, N.J.--(BUSINESS WIRE)--November 18, 1994--The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the District of New Jersey has ordered confirmation of the Boonton Electronics Boonton Electronics is an American manufacturer of electronic test equipment. Originally founded in 1947 in Morris Plains, New Jersey, they are now located nearby in Parsippany. Boonton became a wholly owned subsidiary of the Wireless Telecom Group in 2000. Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on symbol "BOON") Plan of Reorganization. As a result, the Parsippany-based communications test instrument manufacturer has emerged from Chapter 11 provisions. Honorable Novalyn L. Winfield presided over the hearing, conducted November 15, 1994. During the hearing it was confirmed that Boonton's Reorganization Plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. has been accepted by all classes of creditors and equity security holders. No further financial reorganization is required. Boonton Electronics Corp. President/CEO Holmes Bailey attributed the company's swift and remarkable turnaround to new management that placed greater emphasis on product development and streamlining corporate operations. Boonton Electronics' new instruments have experienced unparalleled success and have been a major factor in the company's increased sales. Bailey also sighted the company's restructuring of its sales organization, including its distributor and manufacturer's representative networks, as reason for the company's turnaround. "In the span of only one year, Boonton Electronics has gone from a company in dire financial straits Straits: see Dardanelles; Bosporus. to one that has new management, new headquarters, and new instruments," said Bailey in making the announcement. "Emerging from Chapter 11 will allow Boonton Electronics to devote all of its resources to product development and increasing sales. Because of this, Boonton Electronics will experience greater growth and profitability next year and in the years to come." Boonton Electronics is a manufacturer of test equipment dedicated to measuring the power of RF and microwave systems used in both military and commercial sectors. The Company also manufactures impedance impedance, in electricity, measure in ohms of the degree to which an electric circuit resists the flow of electric current when a voltage is impressed across its terminals. measuring instruments, RF voltmeters, and modulation meters, as well as audio test equipment such as distortion analyzers and audio analyzers. Boonton Electronics' products are used to test terrestrial and satellite communications, radar, telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. , and an expanding number of personal communications products. It is headquartered in Parsippany, N.J. -0- For more information, please contact BOONTON ELECTRONICS CORPORATION, 25 Eastmans Road, Parsippany, N.J. 07054-0465, or call 201/386-9696. Fax: 201/386-9191 CONTACT: Boonton Electronics Corp.
Holmes Bailey, 201/386-9696
or
SSD&W
Patrick Brightman, 201/299-8000
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion