Reunion Industries' $64.25 million CP Industries division sale approved

By Caroline Salls

Pittsburgh, April 2 - Reunion Industries, Inc. was granted court approval of the $64.25 million sale of its CP Industries division to CP Industries Holdings, Inc., according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Connecticut.

CP Industries Holdings is an affiliate of Everest Kanto Cylinder Ltd.

According to the order, the sale of the assets is the only viable alternative for preserving the enterprise value of the assets and maximizing value for Reunion's estate.

Reunion is a Pittsburgh-based manufacturer of metal and plastic products. Its Chapter 11 case number is 07-50727.

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