Judge OKs Wheeling Corrugating sale to Nucor

Aug 23, 2012 | 04:05 PM | Chris Prentice

Tags  rg steel, wheeling corrugating, sparrows point, warren, united steelworkers, usw, nucor, hilco industrial environmental liability transfer

NEW YORK — A federal judge has approved the sale of RG Steel LLC’s Wheeling Corrugating Co. to Nucor Corp. and the termination of the bankrupt steelmaker’s labor agreement with the United Steelworkers union. But the sale of RG Steel’s Sparrows Point, Md., and Warren, Ohio, assets hit potential roadblocks.

Judge Kevin J. Carey approved the sale of Wheeling Corrugating’s equipment and intellectual property to Charlotte, N.C.-based Nucor for $7 million after no objections were raised at a hearing Thursday in U.S. Bankruptcy Court in Delaware. The sale includes all the equipment at Wheeling Corrugating’s plants as well as intellectual property related to production, but does not include real property rights.....

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