Werner Company announced November 20 that it has officially terminated its letter of intent and no longer desires to purchase substantially all of the assets of Green Bull Ladder Company and certain affiliates. After conducting its due diligence of the business and financial matters concerning Green Bull and after lengthy, unsuccessful negotiations with both James McArthur of Robert Swett Consulting LLC, chief restructuring officer of Green Bull and Green Bull's senior secured lenders, Werner has determined that it is no longer practicable to continue discussions toward the possible acquisition of assets of Green Bull.
"Green Bull Ladder was an interesting possibility to match with Werner's strategic growth plans in the industrial and professional climbing products market," said Bill Allen, chief executive officer and president of Werner. "Unfortunately, while Werner had the interest and wherewithal to undertake the transaction, we could not agree to some of the key terms of the potential acquisition.
"Werner has come a long way in improving its manufacturing performance and customer service levels over the last few months. Production levels at our Juarez,
