The Associated Press reported that a federal bankruptcy judge in Delaware has approved the sale of assets of steelmaker RG Steel in Ohio and Maryland.
According to the press report, the sale orders approved include a $72 million purchase of the Sparrows Point steel mill near Baltimore to Hilco Industrial, a company that specializes in industrial liquidations.
The bankruptcy court judge also approved the sale of RG Steel’s assets at its Yorkville, Ohio, facility to Esmark Steel Group. Esmark bid $4.75 million for the Yorkville assets last month and, in addition, offered an additional $400,000 for mineral interests related to the Yorkville sale, according to the press report.
Previously on abfjournal.com:
RG Steel Postpones Auction of Baltimore, Ohio Plants, Thursday, August 02, 2012
Court Approves RG Steel Asset Auction, DIP Loan Led By WFCF, Friday, June 22, 2012