Trism Inc., Kennesaw, GA, has finished its Chapter 11 reorganization.

Under the reorganization plan, the Company significantly reduced its long-term debt, will pay all trade debt in full, secured a multiyear $42.5 million financing arrangement and, under the direction of its current management team, will continue with its multifaceted specialized transportation and logistics operations.
In accordance with the plan, the company converted $86.2 million of existing Senior Subordinated Notes into an aggregate principal amount of $30 million of New Senior Subordinated Notes, due 2005, bearing interest at the rate of 12% per annum and 95% of the new common stock of the reorganized Trism. Existing common stockholders will receive 5% of the new common stock of the reorganized Trism.
"We are pleased to bring closure to this process and look forward to successfully building on a leaner and well capitalized Trism," said Ed McCormick, chairman and CEO.