Valbruna Wins Bid for Slater’s Fort Wayne Specialty Assets
02/16/2004 -
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Valbruna Wins Bid
for Slater’s
Fort Wayne Specialty Assets
Feb. 16, 2004 — Valbruna Slater Stainless Inc., an affiliate of Valbruna Corp., was the successful bidder for the assets of Slater Steel’s Fort Wayne Specialty Alloys Division in Fort Wayne, Ind.
The bid, made in conjunction with the bankruptcy court-ordered auction, was approved by the United States Bankruptcy Court in Delaware on February 11, 2004.
Representatives of Valbruna announced their intention to promptly resume stainless steel bar production at the Fort Wayne, Ind., facility. These operations will provide significant employment opportunities in the local community and a quality stainless steel bar supplier to the U.S. industry.
Valbruna Corp. is a subsidiary of the Valbruna Group of Italy, which operates mainly in the stainless steel industry and has worldwide annual sales of approximately $600 million. Valbruna employs about 2,500 people primarily in Western Europe and North America.
