Astech Engineered Files for Bankruptcy as Cash Balance Worsens

Astech Engineered Products Inc. filed for Chapter 11 bankruptcy protection, listing more assets than liabilities but forecasting a deteriorating cash position.

The aerospace supplies company, founded in 1947 and based in Santa Ana, California, had assets of $23.6 million in May and liabilities of $6.4 million, according to a Friday filing in US Bankruptcy Court for the District of Delaware. It has between 100 and 199 creditors, including Melrose Plc’s GKN Aerospace arm and Haynes International Inc.

The company, which describes itself as the premier supplier of welded honeycomb metallic aero structures, expects to be running a cash deficit from ...