by PCTmarketing | Nov 12, 2021 |
TEMPE, AZ – November 16, 2021 – PCT has appointed new members to their winning team to guide resurgence within the global broadband markets. PCT’s new strategic executive partners (Steven Karaffa and Conrad Plomin) bring a wealth of experience to capitalize on the existing IP, industry-leading technological innovations, market service, and development successes.
The company officially emerged from Chapter 11 following the confirmation of the company’s reorganization plan by the Arizona Bankruptcy Court that presided over the case. The impact of PCT’s IP theft cost burden, the COVID-19 pandemic, and the increased tariff and freight costs presented the option to restructure and rebuild a stronger company and team to drive increased share gains now and in the future.
“Our team and the recent additions have successfully guided PCT through a large and complex restructuring,” said Steve Youtsey, CEO. “The recent success and growth of PCT is a testament to the team’s commitment to solving difficult problems through innovation, dedication, and hard work.”
Steven Karaffa, former President and CEO of Corning Gilbert restructured and restored profitability at this global coaxial and microwave connector business. He also has led several other turnarounds in the telecom and renewable markets. Coming on board as a Strategic Advisor, Steven is known for his results and process-driven approach to technological businesses like PCT’s. “While at Corning, PCT was an aggressive and strong competitor in the broadband RF connectivity, amplifier and optical node world. With that foundation, we plan to drive an aggressive and profitable sales plan with the goal of restoring PCT to a leadership position in the global broadband market,” Steven said.
Conrad Plomin is the President of Sunbelt Capital Corporation. Conrad has acted as both a direct senior lender and as an intermediary during his career as a commercial and investment banker. He has successfully accessed the traditional sources of capital as well as alternative sources in the capital markets. Since its inception in 1990 Sunbelt has assisted numerous corporate clients with raising well over $4 billion of debt financing. “PCT is now well-positioned to take advantage of clear opportunities in the marketplace and I look forward to helping the Company with returning to its dominant position in the coaxial connector sector,” Conrad said. Conrad will lead the post-confirmation funding process for PCT.
“The addition of Steve and Conrad will enhance strategic guidance, leadership, and precise execution moving forward,” added Mr. Youtsey. PCT’s Financial Advisor Chris Linscott stated that “knowing the inner workings of the company and its historic strengths, I am confident that PCT will continue to rebound quickly and I look forward to working with Steve and Conrad.”
Media Contact
Isaac Valenzuela
VP Marketing
Andes Industries, Inc.
isaac.valenzuela@andesinc.com
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. A total of 170 broadband innovative patents have been granted or registered to PCT since its founding. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technologies. PCT has also sold over four billion cable connectors around the world. For 25 years, PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide. To learn more, visit, http://www.pctinternational.com/our-company/.
by PCTmarketing | Oct 28, 2021 |
The Court Adoption of PCT’s Business Plan Drives Stronger Future Growth
TEMPE, AZ – November 2, 2021 – With the full support of its customers, vendors, and the Arizona Bankruptcy Court, PCT International, Inc. has emerged from Chapter 11 with a stronger organization. The robust balance sheet with newly developed products and world-class support continues to fuel global market growth with innovative broadband connectivity solutions.
PCT has over 24 years of industry leadership and has continued to show strong revenue and earnings momentum through the recent turbulent times. “With the impact of COVID-19, tariffs, raw material cost increases, and freight challenges, our team showed perseverance and hard work,” said Steve Youtsey, CEO and Founder. “I couldn’t be prouder of them with the support from our strategic partners,” Steve added. In parallel, PCT has also had to protect their intellectual property that continues to enhance the broadband network solutions their customers depend on.
“In my 35 years as a financial advisor and turnaround professional, I have never been more confident in a company poised for a full resurgence,” said Chris Linscott, CPA. “What PCT has accomplished through this reorganization has made it stronger and set it up for successful growth.”
U.S. Bankruptcy Judge Paul Sala said, “During the bankruptcy, PCT continued to spend money on research and development and continued to obtain patents for their products.” He later added PCT “has a seat at the table and an exclusive sales opportunity.”
Working through the Chapter 11 period and maintaining focus demonstrates the strength of PCT going forward. PCT fought through unprecedented challenges and emerged as a stronger company with a promising future.
Media Contact
Isaac Valenzuela
VP Marketing
Andes Industries, Inc.
isaac.valenzuela@andesinc.com
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. A total of 170 broadband innovative patents have been granted or registered to PCT since its founding. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technologies. PCT has also sold over four billion cable connectors around the world. For 25 years, PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide. To learn more, visit, http://www.pctinternational.com/our-company/.
by PCTmarketing | Aug 5, 2021 |
TEMPE, AZ – August 5, 2021 – PCT International, Inc. has received a new coaxial cable patent from the USPTO, patent #US11,037,703. This innovative patent provides enhanced shielding tape for PCT’s Coaxial Cable Products. Enhanced shielding protects the signals in the cable from outside interference and helps prevent signal leakage. Superior shielding is required to support the expanding broadband internet demands consumers require for personal and business uses. This new patented technology applies to multiple types of cables within the home, such as broadband coaxial, security, Ethernet, and HDMI. Existing installations with obsolete, poorly shielded coaxial cable will suffer more and more as bandwidths used for broadband telecommunications networks expand to allow the 10G services being developed today.
PCT’s continued commitment to innovation via PCT Labs development and certification processes offers its customers a strategic advantage in the marketplace. The average 2,500 sq. ft. home has a combination of over 400 ft. of broadband coaxial, security, Ethernet, and HDMI cables in it. PCT’s enhanced shielding can safeguard the Last Mile from the signal tap to within the home or business.
A total of 170 broadband patents have been granted or registered to PCT since its founding. Today, 160 of these innovative technology patents are still in force with 61 pending approval, all serving the broadband cable industry. “Our latest patented cable technologies continue PCT’s cutting edge leadership in serving the Last Mile in broadband markets,” said Steve Youtsey, PCT’s CEO.
PCT’s Vice President of Global Technology, Leonard Visser, elaborated on this, “Continuity and shielding have always been important and are even more so now. We recognized this years ago when we developed the first true continuity connector that locks components together, metal to metal, for superior connector signal shielding. We then developed our original Triton Coaxial Cable with improved laminates for the best shielding available. And we’re still leading the industry with enhanced foils today to prevent and mitigate micro-fractures that spell trouble with higher bandwidths. PCT has even pioneered the use of quantum tunneling composites to bring shielding to unheard-of levels.”
Organizations like the Society of Cable Telecommunications Engineers1 (SCTE) are educating the industry on the trend toward higher bandwidths. PCT has been a leader in these areas for many years and continues to plan for our customers’ future needs.
Media Contact
Isaac Valenzuela
VP Marketing
Andes Industries, Inc.
isaac.valenzuela@andesinc.com
About
PCT International, Inc. is a privately owned company serving a significant segment of the U.S. telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion coaxial cable connectors worldwide. PCT’s patented coaxial cable and connectors have been installed in approximately 10% of all homes and businesses in America. To learn more, visit, http://www.pctinternational.com/our-company/.
1 – https://www.10gplatform.com
by PCTmarketing | Jul 26, 2021 |
TEMPE, AZ – July 26, 2021 – PCT International, Inc. has received Court approval for $5 million in funding upon Confirmation of its Chapter 11 Plan from TRGP Investment Partners, LP. TRGP has a successful track record of helping companies in similar circumstances to focus on growth and opportunity.
This funding bolsters PCT’s Chapter 11 plan as it heads toward Confirmation and demonstrates the strength of the malpractice claim against Robins Kaplan LLP. The funding will be provided by TRGP to PCT on a contingency basis. PCT is only required to repay the funding from the malpractice case winnings upon receipt of payment on its malpractice claim against Robins Kaplan. The funds advanced by TRGP are specifically available to pay creditors under the pending plan of reorganization, which has garnered the support of over 97% in amount and number of creditors in the case. The sole objector to the approval of the plan is Robins Kaplan.
Robins Kaplan was also the only party opposing the funding and the Court approved it over their objections. PCT’s General Counsel, Doug Drury noted: “We found Robins Kaplan’s objections to the funding odd. If they were confident in prevailing, why would they oppose $5 million in funding that wouldn’t have to be repaid if they won the malpractice case?”
In August of 2019, PCT engaged Leo Beus of the nationally renowned law firm of Beus Gilbert McGroder, PLLC of Phoenix, Arizona, to represent it in its malpractice case on a full contingency basis. BGM’s participation was instrumental in demonstrating the strength of the case and securing the TRGP funding. PCT continues its upward momentum and these positive developments are a direct reflection of the success, innovation, and growth that is to come.
Company Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
Media Contact
Isaac Valenzuela
VP Marketing
Andes Industries, Inc.
isaac.valenzuela@andesinc.com
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide.
by PCTmarketing | Jun 16, 2020 |
TEMPE, AZ – June 16, 2020 – Arizona Bankruptcy Judge Paul Sala issued an order declaring that PCT International, Inc. (PCT) is eligible to participate in the U.S. Paycheck Protection Program. SBA had sought to exclude PCT and other companies reorganizing in Chapter 11 from participating in the program. The Court found that Congress clearly set forth the qualifications for a company to participate in PPP and that PCT met those qualifications.
The Paycheck Protection Program (PPP) is one of several programs passed by Congress to alleviate the impacts on small businesses from the COVID-19 public health crisis. The SBA exceeded its authority by attempting to exclude reorganizing companies from the program. The court went on to note that, even if the SBA could add qualifications to the PPP, this proposed rule is contrary to the intent of Congress.
PCT’s General Counsel Douglas Drury stated that “The Court issued a thorough and well-reasoned opinion that fully supports the Congressional intent behind the PPP to assist businesses like PCT impacted by COVID-19.”
Company Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
Media Contact
Jineane Ford
Chief Information Officer
Andes Industries, Inc.
tel +1.480.603.0663
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide.
by PCTmarketing | Jun 10, 2020 |
TEMPE, AZ – June 9, 2020 – PCT has filed its reorganization plan in the U.S. Bankruptcy Court. PCT has the full support of its supply chain partners and lenders, allowing it to continue to serve its domestic and international customers. Additional capital contributions from shareholders are included in PCT’s plan, and the plan provides for full payment of its undisputed creditors.
Steve Youtsey, CEO of PCT, said, “This plan demonstrates that we are not about to abandon our customers or vendors. PCT has served the telecom industry faithfully and well for over twenty years and this plan shows that we will continue to do so. PCT has over 150 patents in our portfolio and our access to additional capital will allow PCT to expand upon our reputation as a leader in innovation and quality for global telecommunications infrastructure.”
PCT has also filed an adversary complaint in the U.S. Bankruptcy Court seeking relief against its former vendor, EZconn Corporation, from Taiwan and China, for giving PCT’s engineering and business trade secrets to a competitor, Holland Electronics, which is a subsidiary of Amphenol/Times Fiber. A favorable ruling on this adversary complaint would either entirely eliminate, or subordinate EZconn’s claims to those of PCT’s other creditors.
Company Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
Media Contact
Jineane Ford
Chief Information Officer
Andes Industries, Inc.
tel +1.480.603.0663
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide.
