The US Bankruptcy Court has approved the purchase of the idled Republic Technologies cold finishing plant in Pennsylvania, USA to a group of investors lead by Mark Breedlove, who have formed a company BVV Acquisition LLC.
The sale is expected to be completes by the end of June and a team has been tasked with re-opening the plant, which should take place in the next few months.
When they re-open, the focus of the business will be on engineered specialty products, such as standard shapes that require special surface finishes, tolerances or special edges. They will also look at expanding the range of materials from carbon steel and aircraft alloys to stainless steels, tool steels and high speed steels.
For more information on stainless steels, click here.