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Article | February 28, 2003
Arrowhead Systems LLC (Randolph, WI) has successfully completed its financial reorganization and has emerged from Chapter 11 bankruptcy proceedings in a positive fiscal position, with strong expectations for significant future growth, according to the company.
The corporate reorganization plan was approved by the U.S. Bankruptcy Court for the Eastern District of Wisconsin. The plan involved the establishment of a new holding company in which its two principal operating units Busse/SJI and Arrowhead Conveyor will now function as subsidiaries of Arrowhead Systems Inc.
During the yearlong reorganization process the firm’s two operating units Busse/SJI and Arrowhead Conveyor consistently experienced positive financial results while conducting business operations in a normal manner the company says.
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