Tue January 24, 2012
Whitefield Company Wants To Buy Part of Isaacson Steel
A Whitefield firm wants to buy part of Isaacson Steel in Berlin and hopes to save those jobs. NHPR’s Chris Jensen reports.
Last year Isaacson Steel in Berlin filed for chapter 11 bankruptcy.
The company has about 150 employees in two operations.
One does steel fabrication for buildings.
The other, much smaller operation, sells steel. It has 19 employees.
The smaller operation is what Presby Steel of Whitefield wants to buy.
Its owned by David Presby who also owns Presby Environmental.
The company is offering about $225,000 for equipment including cranes, vehicles and inventory
That doesn’t reflect the total cost said Jim McMahon, an official with Presby.
But he declined to disclose it.
He does say the plan is to keep the business going.
“Our objective is to try and retain as many positions in Berlin at the steel operation as we can.”
A hearing on the sale is scheduled January 31st in Concord.
For NHPR News this is Chris Jensen