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Calif. firm to buy RG's W.Va. assets for $4.4M

Keywords: Tags  RG Steel, Beech Bottom plant, West Virginia plant, State Route 2, Hackman Capital, Chris Prentice

NEW YORK — A Los Angeles-based company has agreed to purchase bankrupt steelmaker RG Steel LLC’s Beech Bottom plant in West Virginia for $4.4 million in cash, according to documents filed in U.S. Bankruptcy Court in Delaware.

Hackman Capital placed a bid for the assets, located in Wellsburg, through a West Virginia company, State Route 2 LLC, according to court documents and filings with the West Virginia Secretary of State’s office.

A federal bankruptcy court judge in Delaware approved the sale, according to court documents filed Nov. 19.

The purchase includes approximately 617 acres of land, as well as related buildings and structures, various equipment and personal property, according to court documents.

Hackman Capital declined to comment.

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