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daveyfire

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<i>from ROL</i>
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April 2, 2004
Web posted at: 4:43 PM EST


(ROL Newswire) -- An auction of both the intellectual and physical assets of AeroTech and Industrial Solid Propulsion was be held today before a United States Bankruptcy Judge (Friday, April 2, 2004). After several breaks for discussion and deliberation, just after 11:00 am the judge awarded the sale of AeroTech's assets to the high bidder in the auction, RCS Rocket Motor Systems (owned by Gary Rosenfield). AeroTech stated it will continue business with no interruptions and intends to be able to increase production in the near future for the 2004 flying season.
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Sounds good. Hopefully the motor shelves will remain stocked through the year and long into the future!
 

Stones

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Originally posted by daveyfire
<i>from ROL</i>
April 2, 2004
Web posted at: 4:43 PM EST
(ROL Newswire)...
the judge awarded the sale of AeroTech's assets to the high bidder in the auction, RCS Rocket Motor Systems (owned by Gary Rosenfield).
The highest bidder being ..... Aerotech (in affect). ;)
I'm just glad to see them continue to be in business.
 

OKTurbo

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Yes! There is hope.

Very good news.

John
 

BlueNinja

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Cool! If they will be any cheaper due to lower demand, this will be a happy year:).
 

KermieD

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Congrats to Gary! I hope this leads to a long and prosperous relationship with the rocketry community. I also hope it leads to Joe giving us regular updates on motor availability! :cool:
 

MarkABrown

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I'm glad Aerotech will remain in business and continue to supply motors to the rocketry community.

However, something just seems wrong with declaring bankruptcy and then buying all of the company's assets at "bargain basement" prices using another company that the owner of the bankrupt company owns.
 

Stones

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Originally posted by MarkABrown
...
However, something just seems wrong with declaring bankruptcy and then buying all of the company's assets at "bargain basement" prices using another company that the owner of the bankrupt company owns.
I agree Mark. But, it's unfortunately, the way business is done sometimes. Sort of a "whatever it takes" policy.
My concern is for the creditor(s) who may lose out although, that may be the case no matter who acquired the company.
 

nomopbo

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YEAH BABY!
Good news for sure. Pretty slick how they pulled it off. That's just savy business sense.
 
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