Jan. 20, 2016

Castle Looks to Sell Energy Market Assets

As part of its restructuring plan, A.M. Castle & Co., Oak Brook, Ill., plans to divest more of its energy-related assets, says President Steve Scheinkman.

“With the operational restructuring plan substantially behind us, we are now properly able to evaluate the performance of each of our branches. Based on that analysis, and given the challenging conditions in the global metals market, in particular the energy markets, we plan on selling assets related to the energy sector, which will serve to reduce our debt further and contribute to improved operating performance,” Scheinkman says.

The company recently consolidated the bar processing operations from its Franklin Park, Ill., and Minneapolis facilities into a new bar center in Janesville, Wis. The project was completed on time and within budget, Scheinkman says.


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