{"id":97612,"date":"2025-08-14T04:07:05","date_gmt":"2025-08-14T04:07:05","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/tpi-composites-inc-advances-chapter-11-process-with-court-approval-of-first-day-motions\/"},"modified":"2025-08-14T04:07:05","modified_gmt":"2025-08-14T04:07:05","slug":"tpi-composites-inc-advances-chapter-11-process-with-court-approval-of-first-day-motions","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/tpi-composites-inc-advances-chapter-11-process-with-court-approval-of-first-day-motions\/","title":{"rendered":"TPI Composites, Inc. Advances Chapter 11 Process with Court Approval of First-Day Motions"},"content":{"rendered":"
\n

Secures Access to Liquidity and Financial Flexibility<\/em><\/strong><\/p>\n

Operations Continue Uninterrupted for Employees, Customers, and Supply Partners<\/em><\/strong><\/p>\n

Company Focused on Executing Strategic Initiatives for Long-Term Stability<\/em><\/strong><\/p>\n

SCOTTSDALE, Ariz., Aug. 13, 2025 (GLOBE NEWSWIRE) — TPI Composites, Inc. (NASDAQ: TPIC) together with its domestic subsidiaries (collectively, \u201cTPI\u201d or the \u201cCompany\u201d) announced today that the U.S. Bankruptcy Court for the Southern District of Texas (the \u201cBankruptcy Court\u201d) approved all first-day\u00a0motions filed by the Company in connection with\u00a0its voluntary chapter 11 proceedings.<\/p>\n

The approvals provide the Company with the operational flexibility and liquidity necessary to continue normal business operations during the chapter 11 process. Key motions approved\u00a0include, interim approval for debtor-in-possession financing from its senior secured lenders of up to $82.5 million, the continuation of employee wages and benefits, maintenance of cash management systems, and the authority to pay certain prepetition obligations critical to ongoing operations.<\/p>\n

\u201cOur priority is to maintain stability and support for our employees, customers, and partners during this process,\u201d said Bill Siwek, Chief Executive Officer of TPI. \u201cThe court\u2019s approval of these first-day motions allows us to focus on executing our strategic initiatives to strengthen the Company for the long term.\u201d<\/p>\n

Additional Information<\/strong><\/p>\n

Additional information regarding the Company\u2019s court-supervised process is available at https:\/\/restructuring.ra.kroll.com\/TPIComposites. Court filings and other information related to the proceedings are available on a separate website administrated by the Company\u2019s claims agent, Kroll, at https:\/\/restructuring.ra.kroll.com\/TPIComposites; by calling Kroll representatives at (877) 280-2696 within the U.S. & Canada (or +1 (646) 290-7082 internationally for calls originating outside of the U.S.); or by sending an email to TPIinfo@ra.kroll.com<\/a>.<\/p>\n

About TPI <\/strong><\/p>\n

TPI Composites, Inc.\u202fis a global company focused on innovative and sustainable solutions to decarbonize and electrify the world. TPI delivers high-quality, costeffective composite solutions through long-term relationships with leading OEMs in the wind markets. TPI is headquartered in\u202fScottsdale, Arizona\u202fand operates factories in the\u202fU.S.,\u202fMexico, T\u00fcrkiye and\u202fIndia. TPI operates additional engineering development centers in\u202fDenmark\u202fand\u202fGermany\u202fand global service training centers in the\u202fU.S.\u202fand\u202fSpain.<\/p>\n

Forward-Looking Statements<\/strong><\/p>\n

This release contains forward-looking statements made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements include statements, among other things, concerning: the adoption, implementation and consummation of a Chapter 11 plan of reorganization; the commencement of Chapter 11 proceedings in U.S. bankruptcy court; growth of the wind energy and electric vehicle markets and our addressable markets for our products and services; effects on our financial statements and our financial outlook; our business strategy, including anticipated trends and developments in and management plans for our business and the wind industry and other markets in which we operate; future financial results, operating results, revenues, gross margin, operating expenses, profitability, products, projected costs, warranties, our ability to improve our operating margins, and capital expenditures. These forward-looking statements are often characterized by the use of words such as \u201cestimate,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cpotential,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cseek,\u201d \u201cbelieve,\u201d \u201cforecast,\u201d \u201cforesee,\u201d \u201clikely,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cgoal,\u201d \u201ctarget,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cpredict,\u201d \u201ccontinue\u201d and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed in \u201cRisk Factors,\u201d in our Annual Report on Form 10-K and other subsequent filings with the SEC.<\/p>\n

Investor Relations<\/strong><\/p>\n

480-315-8742<\/p>\n

Investors@TPIComposites.com<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

Secures Access to Liquidity and Financial Flexibility Operations Continue Uninterrupted for Employees, Customers, and Supply Partners Company Focused on Executing Strategic Initiatives for Long-Term Stability SCOTTSDALE, Ariz., Aug. 13, 2025 (GLOBE NEWSWIRE) — TPI Composites, Inc. (NASDAQ: TPIC) together with its domestic subsidiaries (collectively, \u201cTPI\u201d or the \u201cCompany\u201d) announced today that the U.S. Bankruptcy Court […]<\/p>\n","protected":false},"author":2,"featured_media":97613,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/2ecf5ad4-3b2c-4e3f-b7b8-a5a065ee3a44","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-97612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/97612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=97612"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/97612\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/97613"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=97612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=97612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=97612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}