Huntco Inc. (Specimen)

Huntco Inc. (Specimen)
Item# 4286huntco

Huntco, Inc. operated through its wholly owned subsidiaries Huntco Steel, Inc. and Midwest Products, Inc. Huntco Steel operated steel processing centers specializing in the processing and distribution of flat rolled carbon steel. Founded in Missouri by B. D. Hunter, the company sold its products to various customers, including steel service centers and distributors, general fabricators and stampers, manufacturers of consumer durables, tank manufacturers, and energy-related users, primarily in the midwestern and southern regions of the United States.

Midwest principally engaged in the manufacture of compressed air cylinders; and sold its products to customers in the transportation industry, compressor manufacturers, as well as through mass merchandisers. It also manufactured compressed air cylinders for tractor-trailer air brake systems, air compressors, and portable compressed air vessels to inflate objects, such as automobile tires, which were sold to automotive specialty stores.

In February 2002, Huntco and its subsidiaries filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code, in part because of a deal the company signed with Enron. Huntco signed the 15-year contract with Enron in 2001; under it the energy company supplied steel coils. The measure was intended to reduce Huntco's steel inventory costs. But when Enron went bankrupt in December 2001 and stopped supplying steel coils, Huntco was forced to scramble for alternatives. At that time, a number of other suppliers became concerned about how the Enron bankruptcy would affect Huntco. As a result, they would only provide steel on a cash basis.

Close Up of Vignette:

Certificate: Common Stock, specimen, late 1900s

Printer: American Bank Note Company

Dimensions: 8 (h) x 12 (w)

State: MO-Missouri

Subject Matter: Steel Companies | Manufacturing and Production | Specimen Pieces

Vignette Topic(s): Male Subject | Distinguished Gentlemen

Condition: No fold lines, punch hole cancels in signature areas and body, very crisp.

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