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

International Steel Group to Launch IPO

Aug 4 2003

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International Steel Group, The USA’s second largest steel manufacturer intend to launch an IPO in the near future. In doing so they hope to raise $250 million to pay down debt due to their $1.5 billion acquisition of Bethlehem Steel.

While a date has not yet been set, they feel the time is right with steel tariffs having been put into place by the Bush Administration, and a forecast for the US steel industry that is improving. Add to this a stabilising of the market through consolidation of manufacturers.

Should the IPO take place, it would be the first major IPO since AK Steel in 1994, who raised $700 million.

For more information on steel manufacture, click here.

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