Nucor gets green light on Trico deal. (Ferrous).The Delaware Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. has approved the purchase of the former Trico Steel Co. assets by Nucor Corp., Charlotte., N.C. The transaction is not yet final, and may not be until the third quarter of 2002, after further regulatory and tax details are settled. Several creditors of Trico, whose mill is in Decatur, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. ., have filed complaints concerning Nucor's plan to acquire the idled facility. Among the creditors who have filed complaints are Martin Plan Services, a division of MSCO MSCO Military Sealift Command Office MSCO Modeling and Simulation Coordination Office Inc., Sheffield, Ala.; the industrial systems division of General Electric Co., Fairfield, Conn.; and Delta Services Inc., Memphis, Tenn. Nucor CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dan DiMicco says the company will undertake the engineering work required to "correct and improve" the mill's operating equipment. "Startup will commence after we have completed the improvements to the facility," he remarks. In an exclusive interview with Recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. Today last year, DiMicco touched on the possibility of acquiring Trico, as well as other opportunities for his company. (See "The Heat is On," July 2001; also available online at www.RecyclingToday.com.) |
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