ROHN Announces Asset Purchase Agreement:

Amateur Radio and telecommunications industry tower manufacturer ROHN Industries http://www.rohnnet.com/ has announced that it's entered into an asset purchase agreement with SPX Corporation http://www.spx.com/, a global, multi-industry company. ROHN filed September 16 for Chapter 11 (debtor-in-possession) relief in the US Bankruptcy Court for the Southern District of Indiana. The deal will include ROHN subsidiaries that are party to the bankruptcy proceeding.

"The asset purchase agreement provides for the sale of certain assets of the company and the affected subsidiaries to SPX Corporation for the amount of $5,450,000," ROHN said in a news release.

Through its Broadcast and Communication Systems and Services division, SPX provides analog and digital TV and FM systems, high-frequency and medium-frequency antennas, transmission lines, towers and radio frequency filter systems for the broadcast market. SPX also is a major site developer for the PCS/cellular industry.

The bankruptcy court must approve the ROHN-SPX agreement. ROHN filed an amended motion with the court November 13 seeking the court's approval of the asset sale and authority to sell the assets "after an opportunity is provided for competitive bidding." A hearing to consider proposed bid procedures is scheduled for November 25, and the bidding auction is set for December 8. The bankruptcy court is to consider approval of the asset sale December 9.

In addition to its other products and services, ROHN manufactures towers, antenna support structures and "infrastructure equipment" for the telecommunications industry. Horace Ward is ROHN's chief executive officer. The company consolidated its manufacturing operations in Frankfort, Indiana, earlier this year.

More information on the proposed deal with SPX is available on the ROHN Industries Web site http://www.rohnnet.com/ (click on "Press Releases").

Source:

The ARRL Letter Vol. 22, No. 46 November 21, 2003

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