Business Services Industry
Italian Firm Valbruna Buys Bankrupt Slater Steel's Mill in Fort Wayne, Ind.
Knight Ridder/Tribune Business News, February, 2004
By Doug LeDuc, The News-Sentinel, Fort Wayne, Ind. Knight Ridder/Tribune Business News
Feb. 18--FORT WAYNE, Ind. -- A bankruptcy court has approved a $6.4 million bid for Slater Steel's Fort Wayne mill, and the state has agreed to cap its future environmental liabilities.
Valbruna Corp. on Wednesday topped bids by Arlington Capital, a Fort Wayne investment group, and Universal Stainless Alloy Products Inc., a Bridgeville, Pa.-based steelmaker, for Slater's Fort Wayne Specialty Alloys Division.
The U.S. Bankruptcy Court in Delaware approved the high bid Friday.
Valbruna Corp. is the U.S. sales and marketing subsidiary of Acciaierie Valbruna, a stainless steel maker based in Vicenza, Italy.
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