Last chance at Havens may save 100 steel jobs

Last chance at Havens may save 100 steel jobs

Kansas City-based steel producer Havens Steel Co. has offered to sell its main plant and all its assets to the Schuff Steel Co. for $4.5 million. And, if the sale of the plant at Ottawa, Kan., goes forward as planned, Havens will be liquidated. In the meantime, Havens is trying to lease the plant to Schuff for $10'000 a month so that Schuff, based in Phoenix, Ariz., may continue work on the Phoenix Convention Center for which Havens has been manufacturing materials. The leasing arrangement would also allow Havens' 100-plus employees to continue to keep their jobs. Havens filed for bankruptcy protection in March 2004 after fixed cost contracts and skyrocketing steel prices negated its profits and thrust the company deep into debt. The company has requested that US Bankruptcy Judge Jerry Venters to consider setting a deadline of July 11 for competing bids; allowing the company to be auctioned on July 14 to those bidders; and allowing a hearing the day after to consider Havens' motion to sell the plant to the highest bidder. Havens was founded in 1919 and supplied steel to large commercial projects around the country, employing as many as 700 people, in its prime.