PCT International Chapter 11 Plan Confirmed
TEMPE, Ariz.--(BUSINESS WIRE)--Nov 2, 2021--
With the full support of its customers, vendors, and the Arizona Bankruptcy Court, PCT International has emerged from Chapter 11 with a stronger organization. The robust balance sheet with newly developed products and world-class support continues to fuel global market growth with innovative broadband connectivity solutions.
PCT has over 24 years of industry leadership and has continued to show strong revenue and earnings momentum through the recent turbulent times. “With the impact of COVID-19, tariffs, raw material cost increases, and freight challenges, our team showed perseverance and hard work,” said Steve Youtsey, CEO and Founder. “I couldn’t be prouder of them with the support from our strategic partners,” Steve added. In parallel, PCT has also had to protect their intellectual property that continues to enhance the broadband network solutions their customers depend on.
“In my 35 years as a financial advisor and turnaround professional, I have never been more confident in a company poised for a full resurgence,” said Chris Linscott, CPA. “What PCT has accomplished through this reorganization has made it stronger and set it up for successful growth.”
U.S. Bankruptcy Judge Paul Sala said, “During the bankruptcy, PCT continued to spend money on research and development and continued to obtain patents for their products.” He later added PCT “has a seat at the table and an exclusive sales opportunity.”
Working through the Chapter 11 period and maintaining focus demonstrates the strength of PCT going forward. PCT fought through unprecedented challenges and emerged as a stronger company with a promising future.
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. A total of 170 broadband innovative patents have been granted or registered to PCT since its founding. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technologies. PCT has also sold over four billion cable connectors around the world. For 25 years, PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide. To learn more, visit, http://www.pctinternational.com/our-company/.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211102006126/en/
Isaac Valenzuela, VP Marketing, Andes Industries, Inc. email@example.com
KEYWORD: ARIZONA AUSTRALIA/OCEANIA AUSTRALIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: INTERNET HARDWARE AUDIO/VIDEO TECHNOLOGY TELECOMMUNICATIONS
SOURCE: PCT International, Inc.
Copyright Business Wire 2021.
PUB: 11/02/2021 01:35 PM/DISC: 11/02/2021 01:36 PM