Astrata Group Successfully Exits Chapter 11 Reorganization
Singapore, 09th February 2010: Astrata Group Inc. (“Astrata” or the “Company”) today confirmed that it had formally emerged from its recent Chapter 11 reorganization on the 30th of December 2009. The Company’s new shareholder is Fame Trading, Ltd. (“Fame Trading” or “Fame”), which forms part of a well diversified, highly experienced investment group with global operations.
Astrata’s growth and operations continued unabated during the reorganization process, Company officials noted, with the process serving to further strengthen the Company’s financial and resource base.
Tony Harrison, Astrata CEO commented: “Firstly, I want to thank Astrata’s management and its employees, for their loyalty and support during this period. I also want to congratulate and thank Astrata’s new shareholder, FAME Trading. FAME never wavered in its support of Astrata during this reorganization process. Astrata could not ask for a more supportive investor and partner. Their financial strength, global presence and proven experience will further enhance Astrata’s leading position in the marketplace.”
“I would also like to thank our many customers around the world for their continuing support, trust and commitment to Astrata.
“Astrata remains focused on growing the business and working closely with our customers and business partners developing innovative location based solutions that bring security, efficiencies and ROI for organizations throughout the globe.
“We already have a number of exciting plans and new product developments for this year and look forward to launching these at a series of trade shows and events planned for the first few months of 2010,” Harrison concluded.
Details of these events can be found on the Astrata website (www.astratagroup.com).
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