Stant Corp. files for Chapter 11 protection

ERJ staff report (DS)

Connersville, Indiana -- Stant Corp., which makes fluid systems for the global automotive and industrial markets has elected to file voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. Stant expects operations to continue as usual during the reorganisation process and hopes to emerge from Chapter 11 later this year. The application was granted yesterday, 30 July by the United States Bankruptcy Court for the District of Delaware. .

“Following a careful review, Stant's management and board of directors unanimously determined that a restructuring, expedited through a Chapter 11 process, represents the best long-term solution for our customers, suppliers, and employees,” said Marlon Bailey, President and Chief Executive Officer of Stant.

Stant was part of the Tomkins group until it was sold to Miami-based private equity firm HIG Capital LLC in June 2008. Stant makes automotive and industrial fuel, oil and radiator caps, fuel vapor control valves and thermostats for both the original equipment markets and the automotive aftermarket.

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Press release (Motion granted) from Stant

Press release (Application for Chapter 11) from source