First Brands Seeks Expedited Relief To Obtain Near-Term Access To About $250 Mln Of Customer Receipts

Dec 12 (Reuters) -

• FIRST BRANDS: FILED REQUEST FOR EXPEDITED RELIEF TO OBTAIN NEAR-TERM ACCESS TO ABOUT $250 MILLION OF CUSTOMER RECEIPTS

• FIRST BRANDS: ALL OF CO'S DISTRIBUTION AND MANUFACTURING CENTERS ARE OPERATIONAL AND SHIPPING CUSTOMER ORDERS

• FIRST BRANDS: PROGRESSING DISCUSSIONS TO RESTART TRADITIONAL CUSTOMER FACTORING PROGRAMS IN THE ORDINARY COURSE OF BUSINESS

• FIRST BRANDS: SIMULTANEOUSLY PURSUING OTHER FACTORING ALTERNATIVES, EXPEDITED PAYMENT TERMS WITH ITS CUSTOMERS TO IMPROVE OPERATIONAL DELIVERY

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