Feb 23 2004
It was announced on January 30, that Slater Steel (while operating under Chapter 11 Bankruptcy since June, 2003) had agreed to sell its Sorel Forge subsidiary to Tricap restructuring Fund for an undisclosed amount.
However, they have subsequently announced that they have received a more financially attractive offer from A. Finkl & Sons Co who have executed a definitive agreement to acquire Sorel Forge as an ongoing entity.
Slater Steel has until March 2 to accept the offer, if it is approved by the bankruptcy court.
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