Buckeye Chiller Systems and International Steel Corporation formed MicroFin Incorporated in 2017, in South Carolina, United States, as a joint venture to produce tubing for industrial chillers. After four years of losses, the chief executive officer of Buckeye had lost patience with the joint venture. He gave his chief operating officer until the end of March 2021 (less than three weeks) to turn around MicroFin or dissolve the partnership. With no chance of making money in the short term, the chief operating officer focused on three options for terminating the joint venture. Time was running out, and something needed to change.
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