Today’s news seems to be full of companies in trouble …
Automotive stamping companies …
Ajax Precision was already in protection but now I see reports of their equipment going up for auction .
A G Simpson has been operating under court protection since October 2001
VELTRI METAL PRODUCTS, INC. FILES FOR COURT PROTECTION
And steel companies aren’t doing well in the news either.
Analysts say Stelco may have to trim its workforce by as much as 1,500 workers to return to profitability. Stelco’s unfunded pension liability amounts to $1.3-billion.
Turnaround specialist Hap Stephen – who helped restructure Algoma Steel two years ago – was appointed as the company’s chief restructuring officer.
STEELWORKERS PREPARED TO WORK WITH STELCO STAKEHOLDERS ON THE “RIGHT KIND OF RESTRUCTURING”