Advertisement

BRIEFLY

October 12, 1987

The plan to sell Kaiser Steel's Napa County pipe mill, steel fabrication plant and other properties to Gilmore Steel of San Francisco was approved by a federal bankruptcy judge in Denver. The $16 million sale price was $3 million more than the two companies originally had agreed upon because of open bidding during the court hearing. The pipe mill and fabricated steel plant were valued at about $50 million in 1983, but the facility's value went down after operations ceased and pollutants were found at the 152-acre site. Officials say some proceeds will go to a retirees' subcommittee to provide medical benefits.

Advertisement
Los Angeles Times Articles
|
|
|