Insider bid made for troubled Yalian Steel
Dec 31, 2012 | 02:39 PM
| Michael Cowden
Tags
Yalian Steel,
097703 B.C.,
Xin Duo Yu,
acquisition,
Bud Siegel,
line pipe,
Michael Cowden
PITTSBURGH — Yalian Steel Corp. chairman Xin Duo Yu plans to take over the company as the steel line pipe maker grapples with a lack of orders and high debt.
The Vancouver, British Columbia-based company, which operates a longitudinal submerged-arc-welded (LSAW) pipe mill in China, said that Yalian’s board had unanimously approved the "friendly insider bid."....
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