Monday, November 20, 2006

Red Mountain Capital Discloses a 6.3% Stake in ABX Air (ABXA)

In a 13D filing on ABX Air, Inc. (NASDAQ: ABXA), Red Mountain Capital Partners LLC disclosed a 6.3% stake (3.66 million shares) in the company. There is no other record showing a stake owned by the investment firm.

Red Mountain said it has met with the management of ABX Air and expects to maintain a dialogue with management regarding, among other things, ABX Air’s operations, strategic direction, capital structure and corporate governance and Red Mountain’s expectation that management will pursue appropriate measures to enhance shareholder value. In addition, Red Mountain may communicate with other persons regarding ABX Air, including, without limitation, the board of directors of ABX Air, other shareholders of ABX Air and potential strategic or financing partners.

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