NEW YORK Royal Bearing Inc. has bought the bearings inventory of the defunct Sparrows Point, Md., steel mill.
The facility had been owned by several companies, most recently RG Steel LLC, since its construction in 1889. RG Steel filed for Chapter 11 bankruptcy protection and idled the facility in 2012 (amm.com, May 31), with the assets currently being auctioned off by Northbrook, Ill.-based Hilco Industrial LLC.
"It was a massive inventory," Erik Calhoun, Royal Bearings purchasing and marketing coordinator, told AMM. "That particular mill had been around for many years and been through various hands. ... It was probably the largest purchase of its kind in the United States history."
The purchase included more than 500,000 pounds of original large-bore bearings, the equivalent of 14 tractor-trailer loads. The bearings were manufactured by companies such as Canton, Ohio-based Timken Co. and Mount Prospect, Ill.-based NTN Bearing Corp.
"Were extremely pleased that we were successful in acquiring this bearing inventory," Royal Bearing president Clarence Hopkins said. "This massive inventory has been fully integrated into our existing bearing stock and is now available to our worldwide customer base."
The Portland, Ore.-based wholesale bearings distributor, which operates facilities in Michigan, Oregon and Ontario, declined to comment on the value of the inventory purchased.