Motor Coach Emerges From Bankruptcy Protection

JAMES MacPHERSON

BISMARCK, N.D. (AP) — Motor Coach Industries Inc., which makes commuter buses and luxury motor coaches, said 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 220 people. MCI said in a statement Monday that it emerged from voluntary reorganization on 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. ...