Operational Excellence Transformation ...

Operational Excellence Transformation: Via Pliant Corporation: PLIANT CORPORATION SLASHING DEBT BY 49% AND ANNUAL INTEREST EXPENSE BY 57%: Deal would reduce debt by $578 million and annual interest expense by $84 million ...

... "Harold Bevis, President and CEO, said, This financial restructuring is a key pillar in the transformation of Pliant. We have been very successful in transforming our innovation programs, transforming our operational excellence programs, partnering with winning customers and key vendors, and bringing in a world-class executive team to lead the company. We have been hampered by the tremendous debt load on the company, including our mandatorily redeemable preferred stock which is classified as a liability on the company's balance sheet. " ...