Citation Corp., the Birmingham, AL-based foundry and forging holding company, reports it has exited from Chapter 11 bankruptcy and claims it exits-eoart-administered reorganization process "in a stronger position to compete in a difficult marketplace." The company filed for creditor protection last September, citing cash-flow problems it blamed on poor demand for it products and the rising costs of steel scrap and other raw materials. "With the help of our new board of directors, and on the strength of new customer contracts and supplier agreements, we have every reason to be optimistic about Citation's future." stated Citation president and CEO Ed Buker, in a release. Citation's reorganization plan erased much of the debt the company accumulated during the slow years and months leading up to the bankruptcy filing. Last September, Citation had debt load of
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