(AMM) Wolverine to sell EU tube operations.

The article reports on the decision of copper tube maker Wolverine Tube Inc. to seek a buyer for its Netherlands-based Wolverine Tube Europe BV sales and distribution entity. The move is part of Wolverine's efforts to pay off debts and exit Chapter 11 bankruptcy protection, under a memorandum of understanding (MOU) it signed with Pension Benefit Guaranty Corp. (PBGC), one of its creditors. It provides an overview of the terms of the MOU. The company attributes its bankruptcy to volatile copper prices and declining sales revenue.