COLLINS & AIKMAN ANNOUNCES RESULTS OF OFFER TO REPURCHASE JPS AUTOMOTIVE NOTES.CHARLOTTE, N.C.--(BUSINESS WIRE)--March 5, 1997--Collins & Aikman Corporation (NYSE NYSE See: New York Stock Exchange :CKC CKC Canadian Kennel Club CKC Chiang Kai-Shek (former leader of the Republic of China) CKC California Kiwifruit Commission CKC Cool Kids Club CKC Cairo Kidney Center CKC Cold Knife Cone (biopsy) ) announced today that the offer by its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , JPS JPS Jewish Publication Society JPS John Peter Smith (Hospital; Texas) JPS Justice & Public Safety JPS Jean Piaget Society JPS Juvenile Polyposis Syndrome JPS Joint Planning Staff Automotive Products Corp. and JPS Automotive L.P. (collectively, "JPS Automotive") to repurchase the 11 1/8% Senior Notes Due 2001 of JPS Automotive (the "Notes") expired at the close of business on March 5, 1997. Approximately $3.9 million principal amount of the Notes (subject to final verification with the Trustee) were tendered to JPS Automotive in the offer and, after such Notes are repurchased by JPS Automotive, approximately $108 million principal amount of the Notes will remain outstanding. Collins & Aikman is a major supplier of automotive interior systems - textile and plastic trim, acoustics and convertible tops - to the global automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . CONTACT: Collins & Aikman Corporation A. Dennis Mahedy, Treasurer, 704/548-2072 or J. Michael Stepp, Executive Vice President & Chief Financial Officer, 704/548-2395 |
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