Lakeside Steel Inc said that it is interested in acquiring some or all of the assets of Barzel Industries Inc through the Chapter 11 bankruptcy process.

Last week, Barzel and its US subsidiaries filed for Chapter 11 and its Canadian subsidiaries filed an application in Canada seeking protection under respective legislation.

Lakeside Steel said that it believes there is a very strong strategic fit between the two companies' respective businesses that could be realized through the acquisition of certain of Barzel's assets or, potentially, Barzel's entire business.

Barzel operates a network of 16 pipe and tube, manufacturing, processing and distribution facilities that serve a variety of industries, from construction and industrial manufacturing to transportation, infrastructure development and mining.

(Sourced from www.proactiveinvestors.com)