Sparrows Point Sale Finalized
September 7, 2007
Esmark, Wheeling-Pittsburgh Corp. and E2 Acquisition Corp. jointly announced that the United States Department of Justice has approved the acquisition by E2 of the Sparrows Point mill from ArcelorMittal USA. The purchase price was confirmed at $1.35 billion. The transaction is expected to close at the earliest possible date. Sparrows Point, located in Maryland, is a former Bethlehem Steel fully integrated steelmaking facility capable of producing 3.9 million tons of raw steel annually.