China Precision Steel Inc. (Nasdaq: CPSL), a steel manufacturer, indicated that it might be headed for liquidation if restructuring talks with lenders do not work out.

The Hong Kong company defaulted on short- and long-term bank loans, totaling nearly $44 million, in June and July 2012, it says in filings with the U.S. Securities and Exchange Commission.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.