-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KhlfD8FpGlBAeoVS1q3gmSebZxf6hmpY8xO1GV1UOFj4mD6h4FGmq5YzRiRg9hAm tY3DXhtaO7ricU+pkhamYw== 0000931763-99-003473.txt : 19991223 0000931763-99-003473.hdr.sgml : 19991223 ACCESSION NUMBER: 0000931763-99-003473 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991221 ITEM INFORMATION: ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: METROTRANS CORP CENTRAL INDEX KEY: 0000920464 STANDARD INDUSTRIAL CLASSIFICATION: TRUCK & BUS BODIES [3713] IRS NUMBER: 581393777 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23808 FILM NUMBER: 99779107 BUSINESS ADDRESS: STREET 1: 777 GREENBELT PKWY CITY: GRIFFIN STATE: GA ZIP: 30223 BUSINESS PHONE: 18007437200 MAIL ADDRESS: STREET 1: 777 GREENBELT PKWY CITY: GRIFFIN STATE: GA ZIP: 30223 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): December 21, 1999 METROTRANS CORPORATION (Exact Name of Registrant as Specified in Charter) Georgia 0-23808 58-1393777 (State or Other Jurisdiction (Commission File No.) (IRS Employer of Incorporation) Identification No.) 777 Greenbelt Parkway, Griffin, Georgia 30223 (Address of Principal Executive Offices) (Zip Code) (770) 229-5995 (Registrant's telephone number, including area code) Item 3. Bankruptcy or Receivership On December 21, 1999, Metrotrans Corporation (the "Company") and its wholly-owned subsidiary filed Voluntary Petitions for Relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Georgia. The cases have been assigned Case Nos. 9913392- WHD and 9913393-WHD, respectively. The Company continues in possession of its property and continues to operate and manage its business and financial affairs as a debtor-in-possession under the supervision and orders of the United States Bankruptcy Court for the Northern District of Georgia. No trustee or examiner has been appointed. Item 6. Resignation of Registrant's Directors. On December 14 and 17, 1999, respectively, Patrick L. Flinn and William C. Pitt III resigned from the Company's Board of Directors effective as of those dates. Messrs. Flinn and Pitt did not have any disagreement with the Company or management on any matter. Item 7. Financial Statements and Exhibits (c) Exhibits. Exhibit Number Description - ------ ----------- 99 Press Release issued December 22, 1999 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. METROTRANS CORPORATION (Registrant) /s/ John. G. Wallace ------------------------------------- John G. Wallace President and Chief Executive Officer Date: December 22, 1999 EXHIBIT INDEX Exhibit No. Description ---------- ----------- 99 Form of Press Release, dated December 22, 1999 EX-99 2 PRESS RELEASE EXHIBIT 99 FOR IMMEDIATE RELEASE CONTACT: John G. Wallace, President and Chief Executive Officer Metrotrans Corporation (770) 229-5995 METROTRANS ANNOUNCES CHAPTER 11 FILING GRIFFIN, GA, Dec. 22/PRNewswire/ -- Metrotrans Corporation (OTC BB: MTRN.OB) announced today that it has filed a voluntary petition for reorganization with the United States Bankruptcy Court for the Northern District of Georgia under Chapter 11 of the Federal Bankruptcy Code. The Company's decision to seek Chapter 11 protection was due to its continuing operating losses, past debts, and its inability to obtain additional asset-based financing. The Company continues in possession of its property and continues to operate and manage its business and financial affairs as a debtor-in-possession under the supervision and orders of the United States Bankruptcy Court for the Northern District of Georgia. An interim financing arrangement with Bank of America has been submitted for Court approval which would allow the Company to maintain current operations. As previously announced, the Company engaged the services of Legacy Securities Corporation in order to explore strategic alternatives related to satisfaction of its indebtedness, potentially including a sale of the business. As a result of Legacy's activities, interest has been shown by a number of potential buyers in acquiring some or all of the Company's assets in the near future, subject to Court approval. Additionally, the Company announced that Patrick L. Flinn and William C. Pitt III resigned from the Company's Board of Directors effective December 14 and 17, 1999, respectively. Metrotrans designs, manufactures and distributes shuttle and mid-size touring buses through Company operated sales centers and independent distributors in the United States and Canada and Puerto Rico. This press release includes "forward-looking statements" within the meaning of the private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the Company's customers and suppliers, and actual purchases of Company products by customers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the costs and availability of components, product scheduling and other factors disclosed in the Company's last filed Annual Report on Form 10-K. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations can be achieved. -----END PRIVACY-ENHANCED MESSAGE-----