Copperweld to emerge from Chapter 11 bankruptcy protection
According to recent market news, steel
pipe maker Copperweld, located in Pittsburgh, US has obtained an approval from US bankruptcy court for its reorganization plan. This approval will enable the company to emerge from Chapter 11 bankruptcy protection.
In the framework of the reorganization plan, some of the assets of the company were sold and the rest was divided amoung four units: mechanical
tubing, structural
tubing,
automotive components and bimetallic standard products.
Chapter 11 bankruptcy protection does not include company's
Canada and
UK mills.