Two corporations with ties to Cranberry Township were purchased in 2018 after declaring bankruptcy.

The sale of Cranberry Township-based Westinghouse Electric Co. was finalized in September, bringing to a close an 18-month span in which the company filed for bankruptcy.

Brookfield Business Partners finalized its $4.6 billion purchase of the Cranberry-based energy company Aug. 1, bringing Westinghouse out of Chapter 11 bankruptcy. The purchase was announced earlier this year.

The acquisition included all global business of Westinghouse as well as its affiliated debtors and debtors-in-possession.

In April, U.S. Bankruptcy Court for the Southern District of New York approved Westinghouse Electric Co.'s plan of reorganization. Westinghouse officials said the purchase shows the company's continued merit and the benefits of these processes. The company is also moving forward with a power plant in Georgia after a recent decision by Georgia Power, and is increasing its international reach, which is credited to the restructuring efforts of the past year.

Westinghouse employs around 2,200 people in Cranberry Township and about 3,400 in Western Pennsylvania. Worldwide, the company employs about 10,000 people.

Meanwhile, after defaulting on a debt payment in April, Rex Energy Corp. filed for Chapter 11 protection in May.

In September, a federal judge approved the sale of the oil and gas producer to a Moon Township-based energy company for $600.5 million. The deal includes a provision that would provide slightly more than $1 million to be divided among landowners currently suing Rex for unfulfilled lease obligations.

The company was founded in 2007 and has been shedding assets since 2012. It has maintained offices in Cranberry Township. The company's primary holdings are in Butler County, where more than 75 percent of the company's gas well permits were issued for 321 well permits issued on 76 well pads.