Crucible Wins Court Approval For Ch. 11 Asset Sale

Law360, New York (September 28, 2009, 4:34 PM EDT) -- Crucible Materials Corp. has won bankruptcy court approval to sell its compaction and research divisions to specialty metals producer Allegheny Technologies Inc. for nearly $41 million following an auction last week.

Judge Mary F. Walrath of the U.S. District Court for the District of Delaware issued orders Sept. 25 approving the sale to ATI in addition to separate asset purchase agreements with two other entities for the company's remaining assets.

Pittsburgh-based ATI submitted the winning bid at a Sept. 21 auction at the New York offices...
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