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Communication Dynamics Files for Bankruptcy
Sep 2002
ANNVILLE, Penn., Sept. 26 -- Communication Dynamics Inc. (CDI) -- parent company of TVC Communications, which distributes products used to build and maintain cable television systems, and of Amherst Fiber Optics Inc., North American distributor for Ericsson Network Technologies in Stockholm, Sweden -- announced it has filed for Chapter 11 bankruptcy.

The company filed its voluntary petitions in the US Bankruptcy Court for the District of Delaware in Wilmington. The filing includes the company's domestic subsidiaries: Amherst FiberOptics Inc., Amherst Holding Co., CDI Finance Co., Marc Talon Inc., Pacific Coast Cable Supply Inc. and TVC Communications Inc. CDI's international operations are not included and will not be affected by the filing.

CDI President and Chief Executive Officer Robert W. Ackerman said the action allows the company to continue to fulfill customer obligations and provide its customers with an uninterrupted flow of goods, services and support.

"Providing high quality products and services to our customers has been, and continues to be, our top priority. Our employees remain our number one asset," Ackerman said. "We are committed to meeting the needs of both -- now and well into the future.

Ackerman said that he anticipates that daily operations of all subsidiaries will continue uninterrupted, and that those businesses will proceed with substantially more liquidity than has been available in recent months. Employees will continue to be paid and vendors will be paid for post-petition purchases for goods and services in the ordinary course, he said.

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