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TSG Exits Bankruptcy

May 6, 2011

TSG Exit from bankruptcy is effective May 1, 2011.

TSG Holding Company, Inc. (formally known as TSG Incorporated) announced its exit from bankruptcy court protection effective May 1, 2011 under a Plan of Reorganization approved overwhelmingly by the company’s creditors and the U.S. Bankruptcy Court for the Eastern District of Pennsylvania. Under the terms of its plan of reorganization and with the support of its lender, the company restructured all of its long term obligations while offering a significant return to its unsecured creditors.

“We are thrilled to have exited bankruptcy court protection with such tremendous employee, customer and creditor support,” said Jeffrey Goldman, president and Chief Operating Officer.“With the restructuring completed, our organization looks forward to continue attending to our customers’ needs with outstanding and sophisticated service while continuing with the development of new and cutting edge technologies.”

The bankruptcy court confirmed the company’s Plan of Reorganization on April 12, 2011, which became effective May 1, 2011.Under the Plan of Reorganization, the Synthetics Finishing, SynFin Industries, Combeau Industries and Longview Machinery plants will continue their operations uninterrupted under TSG Finishing, LLC.

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