Blue Bird Body Company Sold
8/25/2006 6:30 PMAug. 25, 2006, 2:13PM
School Bus Maker Blue Bird to Be Bought
© 2006 The Associated Press
FORT VALLEY, Ga. - School bus and motor coach maker Blue Bird Corp. is
being acquired by an affiliate of private investment firm Cerberus
Capital Management LP, the companies said Friday.
Terms of the deal, expected to close in September, were not disclosed.
Jeffry Bust, president and chief executive of Blue Bird, said in a
statement that the deal will provide financial stability for the
company, which has undergone a restructuring.
In January, Blue Bird asked a judge to approve a prepackaged bankruptcy
plan as part of its restructuring. At the time, the company's Fort
Valley, Ga., plant, which employs 1,200 people, was temporarily shut
down. Blue Bird also has facilities in Brantford, Ontario.
Blue Bird, founded in 1927, makes school buses with a variety of
options and configurations, as well as the Blue Bird Wanderlodge motor
coach.
Cerberus Capital Management is a private investment firm based in New York.
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