Global Power debtor gets OK to wind down steam generator business

By Caroline Salls

Pittsburgh, Oct. 26 - Global Power Equipment Group Inc. obtained court approval to wind down debtor Deltak's heat recovery steam generator business, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

When the company filed for Chapter 11, Deltak said it had already notified employees of a substantial initial reduction in its workforce.

The company also said that it would begin an orderly wind down of the heat recovery steam generator business unless it was able to obtain material concessions from its customers regarding the terms on which it would complete its major ongoing projects.

The Tulsa, Okla., maker of gas turbine power plants and power-related equipment for industrial operations filed for bankruptcy on Sept. 28. The Chapter 11 case number is 06-11045.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.