About Martin Industries
Martin Industries, Inc., based in Florence, situated in the northwest corner of Alabama, manufactures appliances and utility equipment in two industry segments: home heating and leisure and other products.
On December 27, 2002, Martin Industries, Inc. (the “Company”) filed a voluntary petition for relief in the United States Bankruptcy Court for the Northern District of Alabama in Decatur, Alabama (the “Bankruptcy Court”) under Chapter 11 of the United States Bankruptcy Code styled In re Martin Industries, Inc., Case No. 02-85553. On the same date, the Company filed a motion with the Bankruptcy Court to approve the sale of substantially all of the Company’s operating assets and business, other than its real property, to Monessen Hearth Systems Company pursuant to an Asset Purchase Agreement dated December 20, 2002. The Company is operating its business and managing its affairs as debtor-in-possession. The Company plans to file a Chapter 11 plan that will provide for the disposition of the Company’s remaining assets, including its real estate, with the Bankruptcy Court as soon as practicable.
