NORTEK EMERGES FROM BANKRUPTCY
December 17, 2009
Nortek, Inc. and its affiliated domestic companies (collectively, the "Company") today announced they have completed their financial restructuring and emerged from bankruptcy.
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BANKRUPTCY COURT APPROVES NORTEK’S PREPACKAGED FINANCIAL RESTRUCTURING PLAN
December 4, 2009
NTK Holdings, Inc., Nortek Holdings, Inc., Nortek, Inc. ("Nortek"), and Nortek’s domestic subsidiaries (together, the "Debtors") today announced that the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Cour"”) has confirmed the Company’s prepackaged plans of reorganization. Nortek expects to emerge from bankruptcy as a reorganized company as expeditiously as possible.
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NORTEK REPORTS 3RD-QUARTER RESULTS
December 3, 2009
Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced third-quarter sales of $452 million despite the sustained adverse conditions in the U.S. housing market.
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NORTEK, INC. RECEIVES COURT APPROVAL FOR FIRST DAY MOTIONS AND TO PAY TRADE CREDITORS IN FULL IN THE NORMAL COURSE
October 23, 2009
Nortek, Inc. ("Nortek") today announced that it and its domestic subsidiaries (together, the "Debtors") received approval from the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") of several first-day motions, including interim authorization to pay trade creditor balances that were incurred prior to the Debtor’s chapter 11 filings on October 21, 2009. New trade balances will be paid in the ordinary course of business. The Bankruptcy Court also authorized the Debtors to pay all salaries and wages to their employees earned and unpaid as of the filings. The Court also approved the Debtor’s ability to honor all customer programs, including product warranties, in the ordinary course of business. In addition, the Bankruptcy Court approved an order authorizing the Debtors to use their cash on hand for the operation of business in the normal course. As of the date of the filings, Nortek and its subsidiary companies had cash on hand of approximately $125 million.
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NORTEK, INC. FILES PREPACKAGED PLANS OF REORGANIZATION
October 22, 2009
Nortek, Inc. ("Nortek") today announced that it and its domestic subsidiaries filed voluntary petitions for reorganization under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court").
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NTK HOLDINGS, INC. AND NORTEK, INC. ANNOUNCE RESULTS OF SOLICITATION OF VOTES FOR PREPACKAGED PLAN OF REORGANIZATION
October 20, 2009
NTK Holdings, Inc. ("NTK") and Nortek, Inc. ("Nortek" and, together with NTK, the "Companies") today announced that the Companies have received votes accepting their prepackaged plans of reorganization (the "Prepackaged Plan") from all voting classes of Nortek creditors and one voting class of NTK creditors.
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NORTEK SECURES COMMITMENT FOR $250-MILLION CREDIT FACILITY
October 9, 2009
Nortek, Inc. ("Nortek") today announced that it has secured a commitment for a $250-million asset-based revolving credit facility in conjunction with its prepackaged plan of reorganization ("Prepackaged Plan"), which includes an undertaking to use commercially reasonable efforts to form a syndicate of lenders to increase the facility to $300 million.
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NTK HOLDINGS, INC. AND NORTEK, INC. ANNOUNCE LAUNCH OF SOLICITATION OF VOTES FOR PREPACKAGED REORGANIZATION PLAN
September 18, 2009
NTK Holdings, Inc. ("NTK Holdings") and Nortek, Inc. ("Nortek" and collectively with NTK Holdings, the "Company") today announced that the Company has begun a solicitation of votes from its creditors for its prepackaged plan of reorganization (the "Prepackaged Plan").
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NTK HOLDINGS, INC. AND NORTEK, INC. ANNOUNCE COMPREHENSIVE RESTRUCTURING PLAN
September 3, 2009
NTK Holdings, Inc. ("NTK Holdings"), and Nortek, Inc. ("Nortek" and collectively with NTK Holdings, the "Company") today announced that the Company has entered into a Restructuring and Lockup Agreement with a substantial portion of its bond holders to effectuate a comprehensive restructuring of the Company’s debt (the "Agreement"). When concluded, the Agreement will eliminate approximately $1.3 billion in total indebtedness, providing considerable financial strength and flexibility to the Company’s balance sheet.
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NORTEK REPORTS 2ND-QUARTER RESULTS
August 24, 2009
Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced second-quarter sales of $488 million in continuingly difficult markets.
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NTK HOLDINGS REPORTS 2ND-QUARTER RESULTS
August 24, 2009
NTK Holdings, Inc. ("NTK Holdings"), the parent company of Nortek Holdings, Inc. ("Nortek Holdings") and Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced second-quarter sales of $488 million in continuingly difficult markets.
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NTK HOLDINGS, INC. AND NORTEK, INC. RETAIN ADVISORS
June 17, 2009
NTK Holdings, Inc. ("NTK Holdings") and Nortek, Inc. ("Nortek"), announced today that they are analyzing their capital structures in light of current economic conditions and, to assist in that process, the Blackstone Group and Weil, Gotshal & Manges have been retained as advisors.
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NORTEK REPORTS 1ST-QUARTER RESULTS
May 19, 2009
Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced first-quarter financial results. Nortek reported sales of $439 million and operating earnings of $14.6 million for the quarter ended April 4, 2009.
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NTK HOLDINGS REPORTS 1ST-QUARTER RESULTS
May 19, 2009
NTK Holdings, Inc. ("NTK Holdings"), the parent company of Nortek Holdings, Inc. ("Nortek Holdings") and Nortek, Inc. ("Nortek"),a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced first-quarter financial results. NTK Holdings reported sales of $439 million and operating earnings of $14.6 million for the quarter ended April 4, 2009.
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NTK HOLDINGS, INC. AND NORTEK, INC. TO PROVIDE AUDIO WEBCAST OF 1st QUARTER 2009 EARNINGS CONFERENCE CALL ON MAY 20
May 18, 2009
Nortek, Inc. ("Nortek") will provide an audio Webcast of its quarterly conference call over the Internet on Wednesday, May 20, 2009, at 8:30 a.m. Eastern Time. The Company will announce earnings for the 1st Quarter 2009 at approximately 4:00 p.m. on Tuesday, May 19, 2009. Instructions for joining the audio Webcast can be found at www.nortek-inc.com. An audio replay of the Webcast will also be available for one week at www.nortek-inc.com.
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NTK HOLDINGS, INC. AND NORTEK, INC. TO PROVIDE AUDIO WEBCAST OF YEAR-END 2008 EARNINGS CONFERENCE CALL ON APRIL 14
April 10, 2009
Nortek, Inc. ("Nortek") will provide an audio Webcast of its year-end conference call over the Internet on Tuesday, April 14, 2009, at 9:30 a.m. Eastern Time. The Company announced earnings for the year-end 2008 on March 31, 2009. Instructions for joining the audio Webcast can be found at www.nortek-inc.com. An audio replay of the Webcast will also be available for one week at www.nortek-inc.com.
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NORTEK REPORTS 2008 UNAUDITED RESULTS AND DELAY IN FILING OF 2008 FORM 10-K
March 31, 2009
Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced it has delayed the filing with the Securities and Exchange Commission ("SEC") of its Annual Report on Form 10-K for the year ended December 31, 2008 and also announced unaudited 2008 financial results.
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NTK HOLDINGS REPORTS 2008 UNAUDITED RESULTS AND DELAY IN FILING 2008 FORM 10-K
November 11, 2008
NTK Holdings, Inc. ("NTK Holdings"), the parent company of Nortek Holdings, Inc. ("Nortek Holdings") and Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced it has delayed the filing with the Securities and Exchange Commission ("SEC") of its Annual Report on Form 10-K for the year ended December 31, 2008 and also announced unaudited 2008 financial results.
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NORTEK REPORTS 3rd-QUARTER RESULTS
November 11, 2008
Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced it achieved third-quarter sales of $583 million despite the sustained adverse conditions in the U.S. housing market.
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NTK HOLDINGS REPORTS 3rd-QUARTER RESULTS
November 11, 2008
NTK Holdings, Inc. ("NTK Holdings"), the parent company of Nortek Holdings, Inc. ("Nortek Holdings") and Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced it achieved third-quarter sales of $583 million despite the sustained adverse conditions in the U.S. housing market.
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NTK HOLDINGS, INC. AND NORTEK, INC. TO PROVIDE AUDIO WEBCAST OF THIRD-QUARTER 2008 EARNINGS CONFERENCE CALL ON NOVEMBER 12
November 10, 2008
Nortek, Inc. (“Nortek”) will provide an audio Webcast of its quarterly conference call over the Internet on Wednesday, November 12, 2008, at 10:00 a.m. Eastern Time. The Company will announce earnings for the third-quarter 2008 at approximately 4:00 p.m. on Tuesday, November 11, 2008. Instructions for joining the audio Webcast can be found at www.nortek-inc.com. An audio replay of the Webcast will also be available for one week at www.nortek-inc.com.
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NORTEK REPORTS 2ND-QUARTER RESULTS
August 12, 2008
Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced it achieved second-quarter sales of $647 million and operating earnings of $46.9 million in continuingly difficult markets.
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NTK HOLDINGS REPORTS 2ND-QUARTER RESULTS
August 12, 2008
NTK Holdings, Inc. ("NTK Holdings"), the parent company of Nortek Holdings, Inc. ("Nortek Holdings") and Nortek, Inc. ("Nortek"), a leading diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products, today announced it achieved second-quarter sales of $647 million and operating earnings of $46.9 million in continuingly difficult markets.
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