Delisting of Slater Steel common shares accepted
According to recent market reports from the industry, Canadian specialty steel producer Slater Steel's request for the delisting of its common shares has been accepted by the Toronto Stock Exchange. This news raised company's shares by 61%.
Common shares will be delisted next week on Friday.
Slater Steel which went under bankruptcy protection in June 2003 and was not able to make an effective reorganization plan until now is in preparation of shutting down and/or selling its operations.
For now sales of Slater Lemont, Fort Wayne Specialty
Alloys to Acciaierie Valbruna of
Italy and Sorel Forge to Chicago based A.Finkl&Sons are close to finalization. Besides, as recently reported by SteelOrbis, a letter of intent is signed between Slater and Delaware Street Capital for the sale of its Hamilton Specialty Bar division.