Indalex files for Chapter 11 bankruptcy protection

Platts reported that US aluminum extruder Indalex was filed for Chapter 11 bankruptcy protection with the US Bankruptcy Court in Delaware, leaving its top three creditors with more than USD 18 million in unpaid debts. According to court filings, Alba Aluminium Bahrain was owed USD 7.13 million, Alcoa with USD 6 million and Rio Tinto Alcan with USD 5 million. Others listed among the top 30 creditors included Scholz Aluminum with USD 2.5 million, Asia Aluminium with USD 1.8 million, Exco Extrusion with USD 720,591, Ohio Valley Aluminum with USD 600,000, Metal Exchange with USD 350,000, Alexin with USD 272,000, Hao Mei Aluminum with USD 240,000 and Schupan & Sons with USD 189,000. According to court filings, Indalex had USD 356 million in total assets and USD 456 million in total debts as of December 31st 2008. (Sourced from www.platts.com)