BAY ST. LOUIS, Miss. (AP) — The owner of a steel pipe mill in Bay St. Louis has filed for bankruptcy protection and seeks to sell the plant.
PSL North America LLC, which began operations in 2008, made the Chapter 11 filing June 16 in Delaware. In court papers, it said it plans to sell itself for $100 million to another pipe maker, Jindal SAW Ltd. The company wants to have a bankruptcy auction in August, and with court approval, Jindal or a higher bidder could own the company by the end of August.
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