TORONTO, ONTARIO — (Marketwire) — 04/12/12 — Timminco Limited and its wholly-owned subsidiary Becancour Silicon Inc. (collectively, the „Company“) provided an update on the Company-s marketing process in respect of the sale of its business and assets, in connection with the proceedings commenced by the Company under the Companies- Creditors Arrangement Act on January 3, 2012 (the „CCAA Proceeding“) in the Ontario Superior Court of Justice (Commercial List) (the „Court“).
The Company, with the consent of the Stalking Horse Bidder, has extended the deadline for Qualified Phase I Bidders to submit irrevocable and binding Phase II Bids under the Bidding Procedures, from 10:00 a.m. (Eastern Time) on April 16, 2012 to 5:00 pm (Eastern Time) on April 19, 2012, in order to facilitate requests from those Qualified Phase I Bidders who asked for an opportunity to have discussions with certain stakeholders of the Debtors prior to submitting a Phase II Bid.
The Bidding Procedures, as well as details of the marketing process and other information about the CCAA Proceedings are available on the Monitor-s website, at: . Capitalized terms used herein not otherwise defined are as defined in the Bidding Procedures approved by the Court on March 9, 2012.
About Timminco
Timminco produces silicon metal for the chemical (silicones), aluminum and electronics/solar industries, through its 51%-owned production partnership with Dow Corning, known as Quebec Silicon. Timminco is also a producer of solar grade silicon, using its proprietary technology for purifying silicon metal, for the solar photovoltaic energy industry, through Timminco Solar, a division of its wholly owned subsidiary Becancour Silicon.
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Contacts: Timminco Limited Douglas A. Fastuca Chief Executive Officer (416) 364-5171 (416) 364-3451 (FAX)
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