CCX Inc has sold assets of Braeburn Alloy Steel in Westmoreland County in the US state of Pennsylvania to a GO Carlson subsidiary in the United States Bankruptcy Court for the District of Delaware. The sale was announced on 30 June 2022 by SC&H Capital, an investment banker to CCX Inc. Details of the sales are not immediately available but the companies and SC&H Capital said the transaction would allow Braeburn Alloy Steel to continue operations.Since 1897, Braeburn has specialized in converting metal and customer-owned raw materials into forged and rolled products. Operating out of its 220,000 square foot facility on the banks of the Allegheny River, just northeast of Pittsburgh, the company processes metal alloys including titanium, refractory metals, high-end nickel alloys, and stainless, tool steel, carbon steel, and alloy steels. CCX had acquired Braeburn Steel in 1944 and retained its name. Faced with reduced sales tied to the COVID-19 pandemic and rising expenses associated with its main processing equipment, Braeburn filed a voluntary petition for relief under chapter 11 in March 2022 to effectuate a going concern sale of its assets. Braeburn continued operations through the chapter 11 filing and the sale provides the opportunity for continued employment for the 40-plus employees. GO Carlson is a recognized world leader in providing high-performance corrosion and heat-resistant materials making the Braeburn operation an excellent fit for them. When the proposed sale was announced several months ago, GO Carlson’s President & Chief Operating Officer Mr Tracy Rudolph has said in a statement that “His company looked forward to continued employment for the skilled workers at Braeburn and serving its clients and vendors with the same level of satisfaction it has for decades.”The labor contract for about 35 Braeburn employees represented by USW expired on 30 June. Tribune Live reported that the new owners refuse to recognize the United Steelworkers union. USW spokesman Mt Tony Montana said “The United Steelworkers union is aggressively pursuing unfair labor practice charges against Braeburn and GO Carlson over the company’s refusal to recognize the labor union. The unfair labor practices charges are pending before the National Labor Relations Board in Pittsburgh.”
CCX Inc has sold assets of Braeburn Alloy Steel in Westmoreland County in the US state of Pennsylvania to a GO Carlson subsidiary in the United States Bankruptcy Court for the District of Delaware. The sale was announced on 30 June 2022 by SC&H Capital, an investment banker to CCX Inc. Details of the sales are not immediately available but the companies and SC&H Capital said the transaction would allow Braeburn Alloy Steel to continue operations.Since 1897, Braeburn has specialized in converting metal and customer-owned raw materials into forged and rolled products. Operating out of its 220,000 square foot facility on the banks of the Allegheny River, just northeast of Pittsburgh, the company processes metal alloys including titanium, refractory metals, high-end nickel alloys, and stainless, tool steel, carbon steel, and alloy steels. CCX had acquired Braeburn Steel in 1944 and retained its name. Faced with reduced sales tied to the COVID-19 pandemic and rising expenses associated with its main processing equipment, Braeburn filed a voluntary petition for relief under chapter 11 in March 2022 to effectuate a going concern sale of its assets. Braeburn continued operations through the chapter 11 filing and the sale provides the opportunity for continued employment for the 40-plus employees. GO Carlson is a recognized world leader in providing high-performance corrosion and heat-resistant materials making the Braeburn operation an excellent fit for them. When the proposed sale was announced several months ago, GO Carlson’s President & Chief Operating Officer Mr Tracy Rudolph has said in a statement that “His company looked forward to continued employment for the skilled workers at Braeburn and serving its clients and vendors with the same level of satisfaction it has for decades.”The labor contract for about 35 Braeburn employees represented by USW expired on 30 June. Tribune Live reported that the new owners refuse to recognize the United Steelworkers union. USW spokesman Mt Tony Montana said “The United Steelworkers union is aggressively pursuing unfair labor practice charges against Braeburn and GO Carlson over the company’s refusal to recognize the labor union. The unfair labor practices charges are pending before the National Labor Relations Board in Pittsburgh.”
