Esmark, Nucor Win Bids for RG Steel Assets
According to a report byAmerican Metal Market, Nucor Corp. and Esmark Steel Group were among the buyers at an auction for RG Steel's Wheeling, W.V., assets on July 31. Nucor purchased all the equipment from Wheeling Corrugating Co. for $7 million. Esmark partnered with TCC Steel Co. to purchase the cold-rolled facility in Yorkville, Ohio, and RG Steel's 50% stake in Ohio Coating Co., a tin mill joint venture with TCC. Also, Frontier Industrial Corp. plans to buy the Mingo Junction, Ohio, facility. Sales are not final until approved by federal bankruptcy court in Delaware, where RG Steel filed in late May.