QUEBEC CITY, July 20 /CNW Telbec/ - Sigma Industries Inc. ("Sigma" or the "Company") (TSX-V: SIC) and its subsidiaries, Rene Composite Materials Inc. and Transcam Composites Inc., filed proposals in bankruptcy under the Bankruptcy and Insolvency Act on July 16, 2010. These proposals shall be submitted for approval by their respective creditors on August 2, 2010, and to the Superior Court of Québec on August 3, 2010.
Simultaneously, the Company will request permission from the Court to reorganize, as defined in section 191 of the Canada Business Corporations Act.
These proposals and the reorganization do not have any effect on the ordinary course of the businesses of the Company and of its subsidiaries. Messrs. Denis Bertrand, Gérald Désourdy, Claude Dupuis, Bruno Doyon and Neeman Malek, being all Company's directors, still remain on the board and Sigma still has a valid transfer agent in good standing.
The proposals will be available on SEDAR at www.sedar.com.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SIC), a leading composite and metal products manufacturer, has five operating subsidiaries and employs 350 people. The Company is active in the growing heavy-duty truck, coach, transit and bus, train and subway, machinery, agriculture, light forestry, and wind energy market segments. Sigma sells its products to original equipment manufacturers and distributors in the United States, Canada and Europe.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Sigma Industries Inc.
For further information: For further information: Sigma Industries Inc.: Denis Bertrand, President and Chief Executive Officer, Phone: 418-484-5282, E-mail: email@example.com