Information contained on this page is provided by companies via press release distributed through PR Newswire, an independent third-party content provider. PR Newswire, WorldNow and this Station make no warranties or representations in connection therewith.
SOURCE Metavation, LLC
SOUTHFIELD, Mich., March 4, 2013 /PRNewswire/ -- On Friday, March 1, 2013 Metavation, LLC was informed of the PBGC's intent to terminate, and become the trustee, of the pension plans sponsored by the company. Metavation, has and continues to, take its stewardship of its sponsored pension plans seriously. The plans have honored and paid all participant benefits since Metavation has taken over their sponsorship and expects to continue to do so. Revstone Transportation, LLC does not agree with the PBGC's position that selling Revstone Transportation's interests in Metavation will compromise the plans. Quite the contrary, Revstone Transportation believes a sale will be beneficial for all of Metavation's stakeholders including the plans' participants. The Company looks forward to working with the PBGC to come to an agreed upon resolution of the perceived issues.
©2012 PR Newswire. All Rights Reserved.