Perry Strategic takes over Republic Engineered

Perry Strategic takes over Republic Engineered

North America's financially troubled steelmaker Republic Engineered Products LLC announced that a tentative agreement has been reached for the sale of the company's assets to PAV Republic Inc., formed by Perry Strategic Capital Inc. As a part of the agreement, Perry will operate all of Republic's plants and acquire the existing labor contract with the United Steel Workers of America. The sale will be completed after receiving the final approval from bankruptcy court.