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.