BUSMAKERS' NEWS * USA - Schaumburg-based Motor Coach, files for Chapter 11

Busmaker cites costs, fall of dollar

Chicago,ILL,USA -The Chicago Tribune -September 16, 2008: -- Schaumburg-based Motor Coach Industries International Inc., the biggest U.S. supplier of long-distance buses, filed for bankruptcy Monday, blaming falling demand, the rising cost of steel and the weak U.S. dollar... The company and six affiliates filed Chapter 11 paperwork in U.S. Bankruptcy Court in Wilmington, Del., listing assets valued at as much as $1 billion and debts of as much as $765 million... "The company's financial performance continued to deteriorate during 2008 due to continued commodity price and exchange rate pressure," Chief Financial Officer J. Michael McIlwain said in court papers...