Receives Court Authority to Access Up to $20 Million in DIP Financing

Operations Continue Business as Usual

MECHANICSBURG, Pa., Nov. 20 /PRNewswire/ -- Taylor-Wharton International, LLC ("TWI" or the Company"), the world's leading technology, service and manufacturing network for gas applications involving pressure vessels and precision valves, announced it has received Court approval of its "first day" motions. These motions allow the Company to continue normal business operations without interruption to the Company's customers, suppliers and employees.

The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware authorized the Company to access up to $20 million in debtor-in-possession (DIP) financing, provided by a group of lenders led by GE Capital. The Company will use the financing, along with cash generated from operations, to implement a restructuring plan and pay normal operating expenses, including employee wages and payments to suppliers.

The Company will seek final Court approval of the financing at a hearing on January 6, 2010.

Judge Shannon authorized the Company to pay suppliers on normal terms for goods and services provided after the November 18, 2009 Chapter 11 filing date. The Company also received court authority to make payments to "critical" vendors and to certain suppliers for goods provided within 20 days of the filing date under Section 503(b)(9) of the U.S. Bankruptcy Code. Additionally, the Company won authority to continue honoring all current customer programs.

"The relief granted today ensures that Taylor-Wharton International can continue to provide our customers with the superior, high quality products they have come to expect from us in a timely manner. The relief will also allow our accounts payable to release payments to our vendors to ensure the integrity of our supply chain," said Bill Corbin, chairman and chief executive officer of TWI. "The Company will continue business as usual as we implement a restructuring plan designed to strengthen TWI's capital structure."

TWI and its domestic operations filed voluntary Chapter 11 petitions on November 18, 2009 to implement a financial restructuring. The Company has reached an agreement in principle with the holders of its mezzanine senior subordinated secured notes and holders of its first lien notes to significantly improve the Company's capital structure and create financial flexibility.

About Taylor-Wharton International, LLC

Taylor-Wharton International, LLC is the world's leading technology, service and manufacturing network for gas applications involving pressure vessels and precision valves. Taylor-Wharton International operates three complementary businesses from 16 manufacturing, sales, warehouse and service facilities in six countries on four continents, and markets its products in over 80 countries worldwide. Additional information about Taylor-Wharton International can be located at www.TWIglobaltech.com, www.taylorwharton.com; www.awtank.com; and www.sherwoodvalve.com.

SOURCE Taylor-Wharton International, LLC

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