Business
Luxell Creditor Proposal is Approved by Court
Luxell Creditor Proposal is Approved by Court.
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"\n\n\n\n\nMISSISSAUGA, ON, Nov. 15 /CNW/ - Luxell Technologies Inc. (TSX:LUX) is\npleased to report that the proposal to creditors, which was overwhelmingly\naccepted by Luxell's creditors, has now been approved by the Ontario Superior\nCourt.\nJohn MacDonald, Chairman of Luxell stated \"We are pleased that the\nrestructuring of the company has been approved and that we can continue to\nfocus on building value for our shareholders.\"\nAlec Coukuyt, Luxell's CEO, pointed out that \"the challenges presented by\nthe proposal process actually gave an opportunity for a hi-speed renewal of\nour relationships with all the companies Luxell does business with on both\nsupplier and customer sides. I'm especially encouraged by the support we've\nheard from our customers who clearly want Luxell to continue its business and\nare talking about more new order opportunities coming up.\"\nMr. Couckuyt added that the continued support of \"our employees will be\nthe cornerstone of our future success. It is always exciting for a new CEO to\nfind how much employees want to contribute in the way of new ideas that can\nimprove our productivity and also show how costs can be further reduced. The\nway our reorganization plans are moving forward, it simply strengthens our\nview that the opportunities before us, and the products Luxell has developed,\nare competitive and global in nature.\"\n\nAbout Luxell\n\nLuxell designs, manufactures and licenses flat panel display technologies\nand solutions for defence and avionics industries. More information can be\nfound at www.luxell.com.\n\n>\n%SEDAR: 00008266E\n\n\n","length":1876,"tagName":"div"}]