Judge OKs Wheeling Corrugating sale to Nucor
Aug 23, 2012 | 04:05 PM
| Chris Prentice
NEW YORK A federal judge has approved the sale of RG Steel LLCs Wheeling Corrugating Co. to Nucor Corp. and the termination of the bankrupt steelmakers labor agreement with the United Steelworkers union. But the sale of RG Steels Sparrows Point, Md., and Warren, Ohio, assets hit potential roadblocks.
Judge Kevin J. Carey approved the sale of Wheeling Corrugatings 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 Corrugatings plants as well as intellectual property related to production, but does not include real property rights.....
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