Metal Fab Company Files For Bankruptcy

Morton Industrial Group Inc., a metal fabricating company with plants in Illinois, North Carolina and Pennsylvania has filed for bankruptcy protection, according to the Associated Press.

The company filed a petition for reorganization, listing debts totaling more than $100 million and assets of between $50 million and $100 million. The petition said Morton has more than 200 creditors. The company said it will try to sell its assets and has obtained financing so it can continue operating.

About 350 of the company’s 1,000 employees, most at two plants in Morton, IL, are laid off. The other plants are in Welcome, and Apex, NC and Bedford, PA. Morton
officials said their customers, which include several ag equipment manufacturers, have postponed or canceled orders.