Newspaper article THE JOURNAL RECORD


Newspaper article THE JOURNAL RECORD


Article excerpt


(85179) NOTICE OF SALE OF THE& BUSINESS AND ASSETS OF& AUXIER-SCOTT SUPPLY& COMPANY In Proceedings of a Reorganization under Chapter 11. Judge: JKF Cases No. 90-0631 and 90-0632 Jointly Administered United States Bankruptcy Court for the Western District of Pennsylvania.

In re: The Levinson Steel Company Debtor. Auxier-Scott Supply Company Debtor.

Please take notice that The Levinson Steel Company ("Levinson"), 520 East Main Street, Carnegie, Pennsylvania 15106, and Auxier-Scott Supply Company ("Auxier-Scott"), 1355 North Louisville, Tulsa, Oklahoma 74158, will seek authority from the Bankruptcy Court to sell the business and assets of Auxier-Scott to A-S Acquisition, Inc. (the "Buyer"). A hearing on Levinson's and Auxier-Scott's Motion will be held in Room 1112 of the William S. Moorhead Federal Building, 1000 Liberty Avenue, Pittsburgh, Pennsylvania, on April 16, 1991, at 9:30 a.m.

The assets to be sold include:

a) inventories;

b) machinery, equipment, fixtures, vehicles, furniture and other tangible personal property;

c) contracts, agreements and leases;

d) mailing lists, customer lists, supplier lists, distributor lists and other proprietary or confidential information relating to the business of Auxier-Scott;

e) books and records;

f) the real property and improvements thereon located at 1355 North Louisville, Tulsa, Oklahoma.

The purchase price for the assets to be sold is $585,000 plus an amount equal to certain prepaid expenses and deposits which will be determined at closing, plus the cost of inventory.

Inventories will be sold at the following percentages of lower of cost or market:

Type of Inventory: Structural Steel, Percent of Lower of Cost or Market: 70%; Type of Inventory: Piling Steel, Percent of Lower of Cost or Market: 85%; Type of Inventory: Reinforcing Steel, Percent of Lower of Cost or Market: 90%; Type of Inventory: Miscellaneous, Percent of Lower of Cost or Market: 70%. …

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