Freeport, Texas-based Gulf Chemical & Metallurgical Corp. and its Pennsylvania-based subsidiary Bear Metallurgical Co. unit filed for chapter 11 bankruptcy protection Tuesday with the goal of finding a buyer for the companies, either together or separately.
Gulf Chemical & Metallurgical Corp—which is owned by French mining and metallurgical company Eramet Group—reported $100 million to $500 million each in assets and debts in the chapter 11 petition, filed with the US Bankruptcy Court in Pittsburgh.