Ivaco's bankruptcy protection extended

Ivaco’s bankruptcy protection extended

According to statement released by Canadian steel producer Ivaco, Ontario Superior Court of Justice has recently extended company's bankruptcy protection till August 13, 2004 under Companies' Creditors Arrangement Act (CCAA). As reported by SteelOrbis back in March, the court had previously extended the program till May 21, 2004. Company officials stated that demand for Ivaco's products are strong and they expect this trend to continue in the fourth quarter.