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SGI Files for Bankruptcy Protection

	Posted Mon May 08, 2006 @09:32AM
	In a move that will reduce corporate debt by $250 million, SGI has announced a reorganization which includes a new CEO and CFO and other management personnel. SGI and its US subsidiaries have filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code. "We want to assure our customers, our employees and our communities that SGI is operating-business as usual," Dennis P. McKenna, the recently appointed, Chairman and CEO of SGI, stated. "Our customers can continue to rely on SGI for its mission-critical products, services, and support."

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