(AMM) New firm set to buy Koenig & Vits mill

Newly formed Skana Aluminum Co. Inc. has emerged as the winning bidder in an auction for Koenig & Vits Inc's idled rolling mill in Manitowoc, Wis., a company executive told AMM.

Wisconsin-based Skana, formed by a number of industry executives?including a handful of former executives from Koenig & Vits itself?intends to resume production at the mill this spring, the source said. The terms of the offer were not disclosed.

The mill, which has the capacity to produce 200 million pounds of rolled coil products a year, was idled last May by Koenig & Vits president and chief executive officer Tim Martinez (AMM, May 11).

At the time, Martinez said the shutdown was triggered by a slowdown in aluminum demand and would be temporary. But market sources told AMM that with at least 10 customers or suppliers filing...

Published

March 23, 2010

20:54 GMT

NEW YORK