PTC Alliance requests exclusivity extension to complete asset sale

By Caroline Salls

Pittsburgh, July 30 - PTC Alliance Corp. requested an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive plan-filing period to Oct. 1 from Aug. 2 and the solicitation period to Nov. 30 from Oct. 4.

PTC Alliance said it is requesting the extension to give it time to complete the sale of substantially all of its assets. The company said it cannot propose a plan until the sale closes.

A hearing is scheduled for Aug. 20.

PTC Alliance is a Wexford, Pa., manufacturer and marketer of welded and cold drawn mechanical steel tubing, fabricated parts and precision components and chrome-plated steel bars. The company filed for bankruptcy on Oct. 1, 2009, and its Chapter 11 case number is 09-13395.

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