Firm files again

Published 11:34 am Monday, March 26, 2007

By By Lisa Tindell – news writer
Employees at Brewton's Citation Corp. branch should see no change in work, benefits or salaries, even though the company is again filing for Chapter 11 bankruptcy, officials said.
The company filed a plan with the U.S. Bankruptcy Court last week in order to gain participation by all affected parties according to Ed Buker, Citation's president and chief executive officer.
The company was released from bankruptcy status in May 2005, but will re-enter the status in order to maintain and continue commitment to the long-term success of the company, Buker said.
Montieth said the previous bankruptcy plan affects raw material suppliers and customers, with the current plan affecting the operation of the corporation's investors.
Buker said as a result of the previous filing, the company is in better financial shape than three years ago.
Citation Corp., a manufacturer of cast-forged and machine components, is headquartered in Birmingham with Alabama branch operations in Brewton, Bessemer, Columbiana and Marion.

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