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