Slater Steel to sell Sorel Forge

New York, Jan. 30 - Slater Steel Inc. said its Sorel Forge Inc. subsidiary has reached an agreement to sell substantially all its assets to Tricap Restructuring Fund.

The transaction is expected to close on March 1, subject to obtaining approval from the Ontario Superior Court of Justice.

Slater, a Mississauga, Ont., mini mill producer of specialty steel, said Sorel Forge, based in Sorel-Tracy, Que., is the largest integrated open-die forging plant in Canada.

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