Northern Indiana Metals heading for liquidation

Nov 25, 2008 | 06:36 AM | Paul Schaffer

Northern Indiana Metals LLC, a lead and zinc smelter and detinner in Whiting, Ind., has ceased operating and soon will enter liquidation due to a loan covenant violation.

Jeffrey Condon, chief executive officer, said Tuesday that an assignee will be announced shortly to handle arrangements with creditors. He said the lender, National City Bank of Cleveland, set stringent conditions after second-quarter earnings....

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