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Wire Rope plans production cuts, delays bill paying
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Wire Rope Corporation of America is temporarily suspending payment
to vendors and reducing production as part of a voluntary
restructuring plan.
Wire Rope, one of St. Joseph's oldest and largest employers, said
the measures are necessary to deal with the company's reduced sales
volume.
"We're trying to stay ahead of the curve, to stabilize our
position," company President Charles Salanski said Wednesday evening.
"The goal is to be a long-term producer of wire rope and wire
products."
Mr. Salanski said Wire Rope has no plans to file for bankruptcy.
The company's plans call for suspended ...
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N.Y. firm to control Wire Rope
; ...ownership in the company. Wire Rope officials said...harder for the company, which makes products out of steel wire rope, to pursue certain...said. Ira Glazer, Wire Rope's chief restructuring...officer, said the company will continue negotiating...
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Collateral damage: Wire Rope retirees disappointed with loss of benefits
; ...months in bankruptcy, Wire Rope reorganized and...leaner, stronger company with new ownership...ended up buying the company for $54.5 million...been terminated, Wire Rope would have been...said terminating Wire Rope's pension was probably...way to save the ...
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Wire Rope deal finalized
; ...York-based investment company has finalized its agreement to buy Wire Rope Corporation of...ownership in the company, which employs...Representatives of Wire Rope met with about...proposed sale of the company's assets. Wire Rope officials said...
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Wire Rope survives bankruptcy
; ...sick puppy. It's the only wire rope company that has declared bankruptcy...big part of saving this company." Management officials said Wire Rope still faces competition...is no longer part of the company. Wire Rope reached an agreement on...
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Wire Rope, union reach accord
; ...which will save Wire Rope about $3.9 million...also make the company more attractive...competitive, healthy company," said Ira Glazer, Wire Rope's chief restructuring officer. Wire Rope employs about...St. Joseph. The company also has facilities...
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Life after bankruptcy: Challenges remain, but Wire Rope officials voice optimism
; ...ago to try to save Wire Rope. The company reported a $22 million...to terminate the company's pension plan, which would free Wire Rope from $21 million...steelworkers' union at Wire Rope, said he's confident the company will make it out...
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Wire Rope files bankruptcy
; ...Bankruptcy allows Wire Rope to get protection...reorganizing its finances. Company officials hope to see Wire Rope emerge from bankruptcy...the short term, Wire Rope will get an infusion...will allow the company to buy raw materials...concessions, the company ...
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Wire Rope files for bankruptcy
; ...11 filing allows Wire Rope, a privately held company, to reorganize and...raw materials. The company makes wire rope products - which...late April. The company is the country's largest producer of wire rope products and one...
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Salanski retires from Wire Rope
; ...privately owned company. Wire Rope is going through...who has been with Wire Rope since 1977, said the company has made no final...Salanski started at Wire Rope in 1953 in plant...established the company's technical sales...
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New day dawns for Wire Rope
; ...in New York. Wire Rope officials have...essential to the company's exit from...and important company for St. Joseph's future." Wire Rope, which makes...n't want to see Wire Rope go bankrupt...employee of the company, said he hasn...
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