Top Bidder Wins Fort Wayne Bar Mill Assets

The U.S. sales and marketing arm of Italy’s Acciaierie Valbruna emerged as top bidder in the auction of Slater Steel’s Ft. Wayne Specialty Alloy assets in Indiana. Valbruna is a privately held stainless producer. The winning offer, $6.4 million, bested bids by Arlington Capital and Universal Stainless & Alloy Products. While Valbruna reportedly intends to restart the Fort Wayne operation, no details of those plans have been reported. Arlington is a Fort Wayne investor group; Universal is a Bridgeville, PA-based producer of stainless and specialty steels. Slater Steels is in bankruptcy with no plans to restart or operate any of its subsidiaries. The Fort Wayne plant has been idle since November.