Pacific Steel seeks Ch. 11 protection
Mar 12, 2014 | 05:48 PM
| Frank Haflich
LOS ANGELES A "cavalcade of issues," including a costly labor settlement, combined to prompt Pacific Steel Casting Co. to file for Chapter 11 bankruptcy protection from creditors, according to a company spokeswoman.
Berkeley, Calif.-based Pacific Steel, which claims to be the fourth-largest U.S. producer of steel castings, listed both assets and liabilities of between $10 million and $50 million in documents filed in federal Bankruptcy Court in Oakland, Calif.
"We have every intention of staying open and operating. ... Business is good, but we need to reorganize," the spokeswoman said.....
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