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VOPLEX CORPORATION AND SUBSIDIARY FILE JOINT PLAN OF REORGANIZATION UNDER CHAPTER 11

 VOPLEX CORPORATION AND SUBSIDIARY FILE JOINT PLAN
 OF REORGANIZATION UNDER CHAPTER 11
 DEARBORN, Mich., April 6 /PRNewswire/ -- Voplex Corporation (AMEX: VOT) announced that it and its wholly owned subsidiary, Lapeer Fabricators, Inc., Debtors and Debtors-In-Possession, have filed a Joint Plan of Reorganization dated March 30, 1992 (the "Plan"), under Chapter 11 of the United States Bankruptcy Code.
 The Plan, and a related Joint Disclosure Statement (the "Disclosure Statement), were filed April 1, 1992, with the United States Bankruptcy Court, Eastern District of Michigan, Southern Division, In re Voplex Corporation and Lapeer Fabricators, Inc., the Case Nos. 91-13865 G and 91-13866 G. The Debtors believe that the Plan, as proposed, is in the best interest of creditors and will enable creditors to realize more on their claims than in liquidation of all assets; however, under the Plan, as proposed, holders of equity security interests in Debtors would not retain said interests, nor receive any distribution, and all outstanding shares would be deemed canceled.
 Neither the Disclosure Statement nor the Plan have been approved by the Bankruptcy Court, and each may be materially amended one or more times. The Debtors intend to continue their efforts in seeking to have a Plan of Reorganization approved by the Bankruptcy Court on terms (which may vary from those proposed in the current Plan) acceptable to the greatest number and classes of interested parties. At this time, there can be no assurance that the Plan, as proposed, will be approved, or as to what terms, if any, may be approved under any amended plan of reorganization, by the Bankruptcy Court.
 -0- 4/6/92
 /CONTACT: Joseph W. Bauer of Voplex Corporation, 313-584-2850/
 (VOT) CO: Voplex Corporation ST: Michigan IN: SU: BCY


DH -- DE005 -- 5205 04/06/92 08:59 EDT
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Publication:PR Newswire
Date:Apr 6, 1992
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