Arcelor Mittal Must Sell Sparrows Point Mill
The U.S. Justice Department ordered Arcelor Mittal to sell its Sparrows Point steel mill in Maryland to settle antitrust issues in the aftermath of Mittal’s merger with Arcelor. After the decision was handed down, German steelmaker ThyssenKrupp said it has no interest in acquiring the mill. Sparrows Point, with about 2,400 workers and one of the largest blast furnaces in North America, faces the prospect of its fourth owner in as many years.
The U.S. Department of Justice said in a statement that a sale of the profitable Sparrows Point plant – with its capacity of 500,000 tons of tin-plated products annually, would “most reliably remedy the anticompetitive effects” of Mittal’s merger with Arcelor.