http://disqus.com/by/mack1de/enWed, 13 May 2009 17:59:13 -0000http://www.mfrtech.com/articles/2100.html#comment-9298151<p>You are absolutely right. My original comment was only to say that approximately 400 jobs were not lost but being saved and the company was to be sold and recapitalized. Though the process is painful for many, the outcome will be better than many have experienced in this terrible downturn.</p>mack1deWed, 13 May 2009 17:59:13 -0000http://www.mfrtech.com/articles/2100.html#comment-9291094<p>Actually the reporting on the Sencorp bankruptcy reporting was no totally accurate. Yes, Sencorp (based in Cincinnati) and its subsidiaries filed Chapter 11 bankruptcy on May 8th and employees received a WARN act notice of a possible plant closing. Immediately before the bankruptcy, Secorp signed an Asset Purchase Agreement with WynnChurch Capital ( a large private equity fund based in Chicago) to be acquired via a bankruptcy 363 sale. The plant is operating, customers are being served and funding is in place to get to the bankruptcy sale which we hope is near the end of June. There are no expected major lay-offs or business interuption expected at this time. Though sales have been depressed, this company will be sold and will survive and grow again. </p>mack1deWed, 13 May 2009 14:49:30 -0000