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Motor Coach Emerges From Bankruptcy Protection

Stock quotes in this article: BEN  

JAMES MacPHERSON

BISMARCK, N.D. (AP) — Motor Coach Industries Inc., which makes commuter buses and luxury motor coaches, says it has emerged from Chapter 11 bankruptcy protection with a new majority owner.

The Schaumburg, Ill.-based company operates a bus plant in Pembina, in northeast North Dakota that employs about 245 people. MCI said Monday that it emerged from bankruptcy protection Friday.

MCI filed for Chapter 11 bankruptcy protection in September. The company said at the time that the pre-negotiated bankruptcy filing would reduce the company's debt by $420 million by cutting interest by $54 million annually. ...

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