January 31, 2011

Krystal emerges from bankruptcy

Via LCT Magazine

Krystal Infinity LLC dba KRYSTAL ENTERPRISES successfully closed on the purchase of substantially all of the assets of Krystal Koach, Inc. on Jan. 24, the company said in a statement released today.

Krystal Infinity, LLC is owned by Ed Grech, Krystal's founder and CEO, and an affiliate of publicly traded THUNDER SKY BATTERY LIMITED, a Hong Kong Based manufacturer of Thunder Sky Rare Earth Lithium-Ion batteries and affiliated products for the automotive industry.

Through the sale, Krystal has de-leveraged its balance sheet and recapitalized the company to poise itself for growth in the coming years. Krystal is partnering with Thunder Sky to introduce new, green vehicles in the near future.

Krystal's improved financial condition allows it to further support the needs of its loyal and expanding customer base, both domestically and abroad.

"We look forward to many more years of productive relationships with our customers, employees, and supply partners," Grech said in a statement. "We have recently emerged from a difficult chapter in Krystal's history, and are excited to start the next one. Our deal allows us to re-focus on our core Krystal Values of quality, innovation, and exceptional customer service. Like many other companies, we have managed to survive through these difficult economic times. We have emerged stronger and smarter today so we can capitalize on the future growth of the Krystal and our economy."

 

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