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Rail News: Rail Industry Trends
2/18/2003
Rail News: Rail Industry Trends
After five-month shutdown, Buckeye Steel plant set to restart
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Buckeye Steel Castings Co.'s plant might reopen by month's end. On Feb. 7, Rail Castings Corp. submitted a $15.2 million bid for the bankrupt steelmaker, which was approved by a federal bankruptcy court Feb. 14.
Rail Castings, which was recently formed and includes former Buckeye Steel owners, expects to close the purchase today and partially reopen the plant at the end of February.
In October, the 122-year-old steelmaker shuttered its plant and laid off its 700 workers. On Dec. 20, the company filed to reorganize under Chapter 11.
Buckeye Steel produces cast-iron undercarriages and couplings for freight and passenger cars, and steel parts for heavy-construction equipment.
Rail Castings, which was recently formed and includes former Buckeye Steel owners, expects to close the purchase today and partially reopen the plant at the end of February.
In October, the 122-year-old steelmaker shuttered its plant and laid off its 700 workers. On Dec. 20, the company filed to reorganize under Chapter 11.
Buckeye Steel produces cast-iron undercarriages and couplings for freight and passenger cars, and steel parts for heavy-construction equipment.
