Cold Metal hires adviser for bankruptcy struggle

SEWICKLEY, Pa. -- Cold Metal Products has hired a Cleveland investment banking firm to help it emerge from bankruptcy court protection.
Cold Metal, which recently closed its Campbell plant, hired Resilience Capital Partners, which provides financial advice and investing service for companies that are restructuring.
Raymond Torok, Cold Metal president and chief executive, said that he expects the company will emerge from its Chapter 11 bankruptcy sooner with the assistance of Resilience Capital.
Cold Metal filed for bankruptcy protection in U.S. District Court in Youngstown in August but hopes to emerge after reorganizing its operations.
Beside closing the Campbell plant, the steel processor is in good position to obtain new capital because it has cut overhead and retained key customers and suppliers, Torok said.
Cold Metal employs about 350 people. It has offices in Sewickley and Boardman and plants in Ottawa, Ohio; Indianapolis; Detroit; Hamilton, Ontario; and Montreal.