Special Metals obtains court approval for reorganization plan

Chicago, Sept. 25 - Special Metals Corp. has obtained court approval for its reorganization plan from the U.S. Bankruptcy Court for the Eastern District of Kentucky

"The confirmation of the plan of reorganization is the most significant accomplishment in the company's reorganization process," said Dennis Wanlass, Special Metals' chief operating and restructuring officer. "Based on today's ruling, the company will now proceed to implement the details of the plan of reorganization to meet a targeted emergence date of Oct. 20."

Huntington, W.Va.-based Special Metals produces nickel metal alloys.

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