Real Industry Reveals Chapter 11 Bankruptcy Filing

(RTTNews) - Real Industry, Inc. (RELY) Friday announced the filing of a petition for voluntary Chapter 11 reorganization in the U.S. Bankruptcy Court for the District of Delaware. In conjunction, Real Alloy Holding, Inc. and its U.S. subsidiaries filed petitions for voluntary Chapter 11 reorganization in the U.S. Bankruptcy Court for the District of Delaware. Real Alloy's operations in Germany, United Kingdom, Norway, Canada and Mexico and its Goodyear, Ariz. joint venture are not included in these filings.

Real Alloy said during the Chapter 11 process, it would conduct business as usual in the United States and worldwide and to continue to provide customers, suppliers and other business partners with the high level of service and performance they have come to expect from Real Alloy.

On the management side, Terry Hogan will continue to lead Real Alloy as President. Michael Hobey has been named President and Interim Chief Executive Officer at Real Industry, and he will continue to serve as Chief Financial Officer at the Company. Hobey will also serve as Chief Financial Officer at Real Alloy. Kyle Ross will continue to serve as Chief Investment Officer at Real Industry, and has resigned from the Real Industry Board of Directors.