Nucor, Esmark win bids for RG Wheeling assets
Aug 01, 2012 | 04:45 PM
| Chris Prentice
NEW YORK An auction Tuesday for RG Steel LLCs Wheeling, W.Va., assets saw the unit divvied up among a number of buyers, including Nucor Corp., Esmark Steel Group LLC and Frontier Industrial Corp., sources confirmed to AMM on Wednesday.
Nucor bought all the equipment from Wheeling Corrugating Co. for $7 million, a Nucor spokeswoman told AMM. The Charlotte, N.C.-based steelmaker declined to comment further on the purchase.
Esmark, which had previously announced plans to bid for a portion of the assets, confirmed Wednesday that it had partnered with Seoul-based TCC Steel Co. to purchase the cold-rolled facility in Yorkville, Ohio, and RG Steels 50-percent stake in Ohio Coatings Co., a tin mill joint venture with TCC. Prior to RG Steels bankruptcy filing, Ohio Coatings had received substrate for the tinplate operations from RG Steels Sparrows Point, Md., facility.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.