CE Star Holdings announced on Dec. 1 the acquisition of substantially all of the assets and business of Jorgensen Forge Corp., Commercial Metal Forming and Zero Manufacturing from the Chapter 11 estates of Constellation Enterprises and certain of its subsidiaries. Pursuant to the transaction, the assets of the three companies are now owned by subsidiaries of CE Star, a newly formed entity organized by a group of Constellation’s secured noteholders. As part of the sale, CE Star acquired the rights to the names of the companies, and it intends to do business under the names Jorgensen Forge, Commercial Metal Forming and Zero Manufacturing.
“The companies accomplished a number of important business initiatives during the Chapter 11 process, and CE Star now moves forward with a significantly healthier balance sheet, reduced liabilities and improved financial flexibility,” said Dennis Smith, executive chairman of CE Star. “Our new company is even better positioned to provide the very best products and services to our customers.”
Check out the October 2020 issue of FORGE, featuring our cover story on "Fever Screening and Forging Quality". Other features include "Forging with Hybrid Steel", "FutureForge in Scotland: The Goldilocks Effect", and much more.