Crucible Materials’ service centers sold to SBI Trading

Dec 18, 2009 | 09:45 AM | Maria Guzzo

The final piece of the Crucible Materials Corp. bankruptcy puzzle has fallen into place, with its remaining service center facilities sold to a Dallas-based trading company.

SBI Trading Co., the stalking horse bidder, landed the assets of the Syracuse, N.Y.-based company, which filed for Chapter 11 protection in May but was unable to reorganize and proceeded to sell off its divisions piecemeal.

SBI had submitted an offer of $13.2 million for Crucible's dozen service center locations in November (AMM, Nov. 18). According to court documents, it was the only bidder at Thursday's bankruptcy court auction.....





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