Conway MacKenzie worked with the fourth largest flat-rolled integrated steel maker in the United States with over $3 billion in annual sales and over 8 million tons of steelmaking capacity during its Chapter 11 proceedings. The primary industrial markets served by the company included the construction, appliance, container, converter, service center, pipe and tubing and automotive markets.
In compliance with its DIP agreement the company retained a Conway Mackenzie professional as its Chief Restructuring Officer to guide it through the Chapter 11 process. The DIP agreement also contained various sale process milestones and deadlines which required the company to, among other things, sell its fixed assets.
Conway MacKenzie has been instrumental in navigating the company through its complex bankruptcy and expedited sale process. Through the restructuring process hundreds of millions of dollars of working capital have been realized and over $100 million of fixed assets sales have been completed.