Posted in | News | Ferrous Alloys and Metals | Iron and Steel

ISG Look Set to Buy Bankrupt Weirton Steel

Feb 19 2004

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International Steel Group, ISG have agreed to buy most of the assets, including debt, of bankrupt Weirton Steel for $255 million.

Weirton Steel is America’s fifth largest integrated steel producer and second largest producer of tin. They applied for Chapter 11 Bankruptcy Protection in May of 2003.

The deal is still subject to acceptance from the US Bankruptcy Court and other regulatory approvals. Both parties expect the deal to be completed during the second quarter of 2004.

In the mean time Weirton Steel will continue normal operations.

For more information on steel manufacture, click here.

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