/24-7PressRelease/ - TAMPA, FL, June 12, 2008 - Focus Management Group ("Focus") has been appointed investment banker and advisor to Tarpon Industries, Inc. and its subsidiary (collectively, "Tarpon Industries") under an Order entered by the United States Bankruptcy Court for the Eastern District of Michigan, effective May 29, 2008.
Tarpon Industries (OTC-TPOS) and its wholly owned subsidiary, Eugene Welding Co., ("EWCO") filed a voluntary chapter 11 petition in the Eastern District of Michigan United States Bankruptcy Court on April 29, 2008.
Tarpon Industries, headquartered in Marysville, MI, manufactures and sells engineered steel storage rack systems and a variety of steel tubing products in the United States and Canada through its subsidiary EWCO. The Company's products include structural and roll-formed steel selective racks, drive-in/through racks, push-back racks, cantilevered racks, archival storage systems and order picking systems. Steel storage rack products under the brand SpaceRak are sold to large national retail chains and an extensive network of diverse distributors. The Company markets its steel tubing products throughout the Unites States to OEM automotive, boating, industrial equipment, construction, agricultural, steel service centers, leisure and recreational vehicle markets.
Focus is assisting Tarpon Industries in administering and executing a going concern sale of the business under Section 363 of the United States Bankruptcy Code.
The Focus team is led by Ken Naglewski, a restructuring advisor with extensive experience in chapter 11 reorganizations, distressed business sales, financial restructurings and operational turnarounds. Naglewski, a managing director of Focus Management Group, is a Certified Insolvency and Restructuring Advisor and Certified Turnaround Professional. He can be reached at 800-528-8985 or k.naglewski@focusmg.com.
About Focus Management Group
Focus Management Group provides nationwide professional services in turnaround management, insolvency proceedings, business restructuring and operational improvement with a senior-level team of eighty professionals. Headquartered in Tampa, FL, with offices in Atlanta, Chicago, Cleveland, Greenwich, Los Angeles and Nashville, the firm provides a full portfolio of services to distressed companies and their stakeholders, including secured lenders and equity sponsors.
For additional information about Focus Management Group, please visit http://www.focusmg.com or call 800-528-8985.
CORPORATE HEADQUARTERS
5001 W. Lemon St.
Tampa, FL 33609
(813) 281-0062
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http://www.focusmg.com
Contact: Kristin Myers, (813) 281-0062
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