Sparrows Point talks slog on as deadline lapses

Dec 12, 2007 | 02:09 PM | Maria Guzzo

Although a self-imposed deadline has passed for ArcelorMittal SA to sell its Sparrows Point, Md., facility to E2 Acquisition Corp., the purchase agreement has not been terminated and the parties continue to talk.

Bill Steers, ArcelorMittal general manager of communications, said the company is in communication with the U.S. Justice Department trustee and is determining its next step. "If the sale is not consummated with E2, the trustee will seek a new buyer for Sparrows Point and ArcelorMittal will fully cooperate with this process, during which the plant will continue to be operated by ArcelorMittal," he said.....

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