LTV to reorganise Copperweld

The LTV Corp. (Ohio, USA) has decided to reorganise Copperweld, North America’s largest producer of welded steel tubing, as a stand-alone company. The company and its creditors are developing a separate plan of reorganisation by which Copperweld would emerge from bankruptcy at the earliest opportunity. LTV said that the restructuring effort would focus on preparing Copperweld to achieve long-term success as an independent business. Copperweld has maintained profitable operations throughout LTV’s bankruptcy. LTV has also announced that it has agreed to sell the assets of its LTV Tubular Products business to Maverick Tube Corp.

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