Court confirms thermadyne's reorganization plan. (Industry News).(Thermadyne Holdings Corp.)

Thermadyne Holdings Corporation, St. Louis, MO, announced the U.S. Bankruptcy Court confirmed its reorganization plan, which enables it to emerge from Chapter 11 as a financially and operationally strong company. The plan, which was approved by the company's senior secured lenders and general unsecured creditors, reduces the company's long-term debt to approximately $230 million from the nearly $800 million in. debt and $79 million in preferred stock when the company filed for protection under Chapter 11 in November 2001. "This marks a major milestone for our company. This key eve