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Updated: 6:43 p.m. Thursday, Nov. 13, 2003 | Posted: 6:43 p.m. Thursday, Nov. 13, 2003
Weirton, WV —
Late today, Weirton Steel received conditional permission to participate in the Emergency Steel Loan Guarantee Program.
The decision by the program's board will allow Weirton Steel to secure a $145 million dollar loan to help the steelmaker exit bankruptcy.
The final action needed for the company to emerge from bankruptcy depends on approval of its reorganization plan before a federal bankruptcy judge.
A court hearing is scheduled for Friday, November 14.
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