Super Steel Products files for receivership
Mar 04, 2010 | 06:05 AM
| Corinna Petry
Super Steel Products Corp., a manufacturer of metal-based products and equipment for the industrial, construction, agricultural and railroad markets, has filed a petition for receivership under Chapter 128 of the Wisconsin statutes.
Jim Schmelzer, president, said the Milwaukee-based company remains in business, accepting and fulfilling all customer orders throughout the Chapter 128 process, and the company has secured funding to cover its operations during its reorganization.
The filing gives Super Steel the time and framework to reposition "while we continue to operate our business as usual," Schmelzer said. "We have a going business, a backlog of orders and excellent employees—this step changes none of that."
He said Super Steel will "keep supporting its work force, keep buying goods and services from its vendors and keep (servicing) customers. Our goal is to preserve and strengthen the business so we can be a more successful and stronger competitor in the future."....
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