Attorneys for Crucible Materials Corp. are hoping bankruptcy court officials will set another auction hearing, this time to sell off the specialty metals company's service center locations for at least $13.2 million.

SBI Trading Co. signed an asset purchase agreement Nov. 16 with Syracuse, N.Y.-based Crucible, according to bankruptcy court documents. The dealincludes Crucible Materials' service centers, inventory and equipment.

Satish Gupta, Dallas-based SBI's president and chief executive officer, said in a statement that he believes the service centers provide a strong entry into the specialty steel distribution sector.

"Our strength is in managing worldwide procurement and supply chain of metals, and this acquisition provides a strategic synergy to expand into distribution," he said. "Our intent is to continue to run these service centers and grow service centers' strong position in the tool and specialty steel industry."

SBI is the parent of SB International Inc., a metals...