"Garrison Hilliard" wrote in message
...
MIAMISBURG, Ohio - Huffy Corp. announced today it has emerged from
bankruptcy
after receiving $50 million in loans from two financing corporations.

The 117-year-old bicycle and sporting goods company filed for
reorganization
last October under Chapter 11 of the federal bankruptcy code, citing
losses
largely from a Canadian sports equipment company. A judge last month
approved
the reorganization plan, contingent on the company finding financing.

Huffy has about 110 workers and is headquartered in this Dayton
suburb.

"Huffy Corp. has now successfully completed a very difficult period in
its long
history," said John Muskovich, president and CEO. "We have
accomplished all of
our major objectives for this process and have secured an exit
financing
package, which along with the support from our trade suppliers will
provide
assurance to our customers as to the strength of the new Huffy."

Huffy said its board of directors has been reconstituted. Its new
chairman is
Zhidong Liang, executive vice president of China Export & Credit Corp.

"Huffy Corporation is an important partner for the China-based
companies which
manufacture its bicycles, and we look forward to a long and mutually
beneficial
working relationship," Liang said.

Huffy is a perfect candidate for a "do not resuscitate" living will.
They will never improve their branding image without a name change. How
about Huffy-Davidson.

Phil H