SYRACUSE, N.Y. (AP) -- About 700 United Steelworkers are set to vote on a new contract that could determine whether a New York City investment company will rescue Crucible Specialty Metals.
BlackEagle Partners wants to buy the 139-year-old suburban Syracuse steel mill but says it needs a new union contract and assistance from New York state before it can submit a firm purchase offer in bankruptcy court.
Union members will hear details of the proposed contract at a meeting Friday and then vote.
Crucible filed for bankruptcy court protection in May and has been trying to sell its facilities to settle more than $70 million in debts. The company recently found a buyer for its specialized steel plant and research facility near Pittsburgh.