Slater Steel might sell its assets

Slater Steel might sell its assets

Canadian steelmaker Slater Steel Inc. has gone under bankruptcy protection. Therefore, the company is planning to sell its assets in order to initiate a restructure plan. Furthermore, the company has hired RBC Capital Markets, part of the Royal Bank of Canada, for the investigation of its restructure plans. According to company, the restructure plans are composed of finding equity investors, other financial alternatives and sale of company's assets or operating divisions or the whole of the company. Slater Steel has operations in Quebec, Ontario, Fort Wayne Ind. and Lemont III in the US and Canada. The company produces stainless and alloy steel bars at its plants and also flat rolled stainless products in Canada.