Noble International Limited announced that the company and certain of its US subsidiaries have filed voluntary petitions in the United States Bankruptcy Court for the Eastern District of Michigan seeking relief under the provisions of Chapter 11 of the United States Code. Noble's European, Asian and Mexican affiliates are not debtors in the bankruptcy.

Since late February 2009, Noble International has relied on financing arrangements from its customers to help sustain its North American operations. Recently, three of its customers initiated plans to resource their purchases of laser-welded products from the company's US and Canadian facilities to other suppliers. As a result of these developments and the continued hardships confronting the automotive industry, corporate leadership determined that Chapter 11 bankruptcy protection was in the best interest of the company, its creditors, stockholders and other interested parties.

Mr Andrew J Tavi CEO of Noble International said that "As with almost every supplier in this industry, Noble has experienced substantial volume reductions that have had a significant effect on its financial condition. Over recent months, our company has implemented significant cost savings initiatives and worked diligently with our customers and financial institutions in an attempt to regain solid footing in the face of dire circumstances within the industry. Unfortunately, the frozen credit markets and diminished volumes have limited our ability to effectuate a solution outside of bankruptcy."

Noble anticipates that Chapter 11 protection and a DIP financing that it has negotiated with certain of its customers, if approved by the Bankruptcy Court, will enable the company to pursue possible sales of the company's remaining operations.