ATLANTA, Aug. 29 /PRNewswire-FirstCall/ -- Atlantis Plastics, Inc. (OTC: ATPL.PK) (the "Company") is pleased to announce that on Thursday, August 28, 2008, the United States Bankruptcy Court for the Northern District of Georgia appointed AEP Industries Inc. and Custom Plastic Solutions, LLC, a subsidiary of Monomoy Capital Partners, L.P., as the "stalking horse" bidders for the Company's Plastics Films and Molded Products businesses, respectively. These "stalking horse" bids are subject to higher and better offers at a Court sponsored auction, scheduled to be held on October 2, 2008. In addition, the Court approved the $26.5 million post petition financing facility provided by a consortium of lenders led by GE Financial Services Inc. Bud Philbrook, President and Chief Executive Officer, said, "We are very pleased with the Court's action today. Atlantis Plastics remains committed to continued support of its customers, suppliers, employees and other constituents to the fullest extent possible and work toward a seamless transition of the Company's operating facilities in Elkhart, Indiana, Cartersville, Georgia, Mankato, Minnesota, Tulsa, Oklahoma, Fontana, California, Nicholasville, Kentucky, Henderson, Kentucky, Ft. Smith, Arkansas, Jackson, Tennessee, LaVergne, Tennessee, and Alamo, Texas, to the new owners of the businesses. We anticipate no disruption in our ability to continue to service the needs of our customer base as we work through the sale process and we fully expect our high level of customer support to continue under the new owners." Atlantis Plastics, Inc. is a leading U.S. manufacturer of polyethylene stretch and custom films and molded plastic products. Stretch films are used to wrap pallets of materials for shipping or storage. Custom films are made-to-order specialty film products used in the industrial and packaging markets. Atlantis' injection molded and profile extruded plastic products are used primarily in the appliance, automotive, agricultural, building supply, and recreational vehicle industries. For more information, please visit http://www.atlantisplastics.com/ FOR FURTHER INFORMATION: Paul G. Saari Chief Financial Officer (800) 497-7659 DATASOURCE: Atlantis Plastics, Inc. CONTACT: Paul G. Saari of Atlantis Plastics, Inc., Chief Financial Officer, +1-800-497-7659 Web site: http://www.atlantisplastics.com/

Copyright