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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