The plan to sell Kaiser Steel’s Napa...

The plan to sell Kaiser Steel’s Napa County pipe mill, steel fabrication plant and other properties to Gilmore Steel of San Francisco was approved by a federal bankruptcy judge in Denver. The $16 million sale price was $3 million more than the two companies originally had agreed upon because of open bidding during the court hearing. The pipe mill and fabricated steel plant were valued at about $50 million in 1983, but the facility’s value went down after operations ceased and pollutants were found at the 152-acre site. Officials say some proceeds will go to a retirees’ subcommittee to provide medical benefits.