(PITTSBURGH) March 3, 2017 – Prime Metals & Alloys Inc. (PMAI) announced yesterday afternoon that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in order to better position its operations and debt structure for the future. The petition was filed in the U.S. Bankruptcy Court for the Western District of Pennsylvania.
After conducting an extensive review of PMAI’s capital structure, the company determined that pursuing a sale through the chapter 11 process is the most effective course of action to emerge a stronger and healthier company. This process will include PMAI pursuing a sale of its business to a buyer committed to supporting its core customer base and fundamental service expectations.
PMAI will continue provide a wide range of high-quality products and services, flexible order quantities, extremely reliable product deliveries, and outstanding customer service while navigating the Chapter 11 process. The company has sufficient assets to meet its operating expenses during the restructuring process and is determined to minimize disruption to our customers, employees, and business partners during the reorganization.
Bernstein-Burkley is serving as PMAI’s legal advisors in the restructuring. For additional information on the restructuring, please contact Kirk Burkley, at (412) 456-8108 or firstname.lastname@example.org.
If you are an existing or prospective customer with questions about PMAI products and services, please contact Prime Metals & Alloys Headquarters at (724) 479-4155 or email@example.com.
ABOUT PRIME METALS & ALLOYS INC.
Prime Metals & Alloys (PMAI) can strengthen your supply chain and provide unique solutions to help reduce your total costs. PMAI provides a wide range of high-quality products and services, flexible order quantities, extremely reliable product deliveries, and outstanding customer service. PMAI’s major products and services include: AOD refined, bottom poured ingots and electrodes, VAR and ESR ingots, toll scrap processing, small ingot products for foundry applications, master alloys for both air and vacuum melting facilities, scrap blends, shot products, and manufacturing support services.
Bernstein-Burkley is a highly regarded and respected Pittsburgh-based law firm with a national reach in Bankruptcy and Restructuring, Creditors’ Rights, Business and Corporate Transactions, Litigation, Real Estate, and Oil and Gas. The firm has cultivated a reputation for excellence over the course of 50 years in the Pittsburgh business community. Bernstein-Burkley’s core purpose is to create partnerships that provide clients with a peace of mind through expert advice and zealous representation.