Saturday, August 04, 2007

Arcelor Mittal Sells Sparrows Point

Arcelor Mittal, left, the world's largest steelmaker, was forced to sell the Sparrows Point steel plant located in Baltimore by the Justice Department to preserve U.S. competition in production of tin-plated steel, used to make cans for food, aerosol sprays and paint.

Esmark, based in Chicago Heights, Illinois is headed by brothers James P. and Craig T. Bouchard and was founded in 2003. The Sparrows Point facility is the only fully integrated U.S. steel mill with direct ocean access. Sparrows Point accounted for 17 percent of Mittal's North American output and can produce about 3.9 million tons of steel products a year. The United Steelworkers Union, which represents about 2,500 Sparrows Point workers and about 15,000 retirees, must sign off on the ownership change under terms of its contract. (Wash Post)

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