Wolverine Completes Initial Phase of Recapitalization Plan

March 2007
Metal Center News;Mar2007, Vol. 47 Issue 3, p48
Trade Publication
The article reports that Wolverine Tube Inc. has closed the $50 million transaction by Plainfield Special Situations Master Fund Ltd. and The Alpine Group Inc. that resulted to the issuance of 50,000 shares of preferred stock in Huntsville, Alabama. As a consequence of the deal, Wolverine will restructure its board and decrease its size from eight to seven. Johann R. Manning Jr. will resign from his post as president and chief executive officer (CEO) and he will be replaced by Harold M. Karp.


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