Harvard Industries, Inc. – St. Louis Die Casting Division
The St. Louis Die Casting Division of Hayes-Albion Corporation, a wholly owned subsidiary of Harvard Industries, Inc. (‘Harvard’), is a full service multi-alloy aluminum casting facility producing porosity free vessels for fuel, hydraulic and filtration systems for heavy truck and various industrial applications.
The decrease in automotive production volumes in the late 2001, coupled with certain legacy liabilities, adversely affected Harvard’s borrowing base, revenue and cash flow, causing Harvard to file for protection under Chapter 11 of the U.S. Bankruptcy Code.
Harvard retained SSG in January 2002 to sell the Company as a whole, or by division, in order to maximize the value to secured creditors. SSG consummated the sale to an outside investor’s newly formed entity, St. Louis Die Casting, LLC, under Section 363 of the U.S. Bankruptcy Code. The transaction closed in August 2002.