NEW YORK A subsidiary of auction house Hilco Trading LLC has purchased the former RG Steel LLC facility in Warren, Ohio, and looks to resell all or part of the steelmaking complex to a buyer that could restart operations at the inoperative facility.
Hilco Warren LLC, a unit of Hilco Trading, bought the Warren assets for an undisclosed sum from BDM Warren Steel Holdings LLC, which bought the steelmaking assets in September for $15.5 million in a bankruptcy auction (amm.com, Sept. 26).
Hilco is making an "aggressive push" to find buyers for all or part of the plant and "every reasonable effort to get the hot steelmaking operation up and running again," it said.
"Our goal is to do everything possible to find a purchaser for the facility that can operate the hot mill facility as a going concern," Gary Epstein, chief marketing officer, said in a statement.
BDM had told AMM previously that it didnt intend to operate the mill itself but was courting interested parties considering a possible restart (amm.com, Oct. 19).
Hilco has already handled other former RG asset sales, including the Sparrows Point, Md., plants bearings inventory (amm.com, April 17).
Hilco couldnt be reached for comment.