Owners Schedule Another Sparrows Point Steel Mill Sale

The mill will be sold or auctioned by the beginning of 2013.

The fate of the Sparrows Point steel mill again hangs in the balance.

Environmental Liability Transfer and Hilco Trading, who purchased the former RG Steel back in August, plan to sell all or part of the mill by December.

The Hilco website, which features several photos of the site, lists the sale as a "rare opportunity to purchase and operate a steel mill."

Hilco has announced the following schedule for buyers:

  • Deadline for Initial Indication of Interest: November 12, 2012
  • Bid Deadline: December 21, 2012
  • Auction Date (if necessary): January 3, 2013
  • Closing Date: No later than January 11, 2013

RG Steel sold the mill to the liquidators in August for $72 million, after no steel producers showed up at the auction in New York.

More than 2,000 workers lost their jobs after RG Steel filed for bankruptcy in May. The company had purchased the former Bethlehem Steel from the Russian company Severstal North America in 2011, the Associated Press reported.

Steel workers and union heads have said they hope the sale will bring the return of a steel manufacturer, according to the report.

mike a September 28, 2012 at 06:20 PM
I would like to take this opportunity to mention that Mittal had owned the plant and was spending a great deal of money to upgrade it UNTIL the fed government stepped in and forced them to sell. since then it has been straight downhill. Glad that washington has our backs.
Steve September 28, 2012 at 06:47 PM
It's been going down hill since Wilbur Ross bought the mill. The galling thing is that I ran into a guy that is laid off from the mill. He is part of the "Anybody But the Black Guy for President" crowd. Rmoney/Wilbur Ross/ Ira Rennert are evil embodied. Why complain when you are laid off and intend to vote for somebody that put 10's of thousand of people in the same boat as you are in? Doesn't make any sense.
Eastsider September 29, 2012 at 01:11 PM
Obama the clown has moved many jobs overseas himself but let’s turn the cheek when you’re a hardheaded democrat.
Steve September 29, 2012 at 02:34 PM
The President didn't move any jobs overseas, that was the Vulture Capitalists like Mittens Romney. In Sparrows Point's case, the death blow occurred during the Bush administration when potential Romney running mate Rob Portman did away with the trade tariffs which prevented China from dumping steel.
Eastsider September 29, 2012 at 09:03 PM
Better make sure your correct before making a bold comment like "the president DIDN't move any jobs over seas"
Steve September 30, 2012 at 12:57 PM
He didn't.
Eastsider September 30, 2012 at 01:26 PM
His appointed Chairman of the President’s Council on Jobs and Competitiveness and the CEO of General Electric Jeffrey Immelt moved the GE's x-ray business to China from the USA. Now this council job is to provide non-partisan advice to the President on continuing to strengthen the Nation's economy and ensure the competitiveness of the United States and on ways to create jobs, opportunity, and prosperity for the American people." His administration, his appointments means a reflection of Obama. How is this helping Americans?
Steve September 30, 2012 at 01:35 PM
That was GE's decision, not the President's. Do you want to talk about how many jobs Bain Capital moved overseas?
Steve September 30, 2012 at 01:37 PM
Look at Rmoney's track record. http://www.washingtonpost.com/business/economy/romneys-bain-capital-invested-in-companies-that-moved-jobs-overseas/2012/06/21/gJQAsD9ptV_story.html
Eastsider September 30, 2012 at 01:37 PM
Just pointing out that you stated the President DIDN'T move jobs across the seas. But people in his Administration did, so in my opinion he has direct involvement.
Eastsider September 30, 2012 at 01:43 PM
Now you post the negative about Bain Capital but how many jobs did Bain Capital create here in the USA?
Steve September 30, 2012 at 06:28 PM
The people that actually know aren't talking. http://www.nationalreview.com/media-blog/288051/how-many-jobs-did-bain-actually-create-greg-pollowitz Rmoney himself claimed he created 10,000 jobs but he later backed off of that number when his primary opponents called him on it.
Eastsider September 30, 2012 at 11:19 PM
Romney was part of Bain Capital the "COMPANY”, which made decisions to move corporations overseas and also invest and grow companies here in the USA which created jobs. He was just "ONE PERSON" in the link of the Bain Capital chain. So why are you blaming one person for what you call thousands of jobs lost to overseas. Unless you’re just a hardheaded Democrat that just plan out hate Republicans. I don’t blame Obama for all the mishaps of this country, since it takes the President and Congress to screw everything up and they have done a fine doing just that.
Hard Hat October 01, 2012 at 03:23 AM
It is amazing to me that some how people always want to put the blame on the president. Maybe if they can take the hate and racist feeling out of there hearts we could get somewhere in this country. Sparrows Point will make steel again!
Parkvillehoney October 01, 2012 at 03:42 AM
mike a, if the federal government was the culprit, why do all unions back Obama? Are you better off now than 4 years ago. I am not. Look at interest rates on savings accounts and bonds. Only benefit is mortgage rates if you can afford to buy a home. Everything from food, gasoline, oil for home, clothing and health care premiums are all more expensive than 4 years age. Obama was for change but in the wrong direction.
Eastsider October 01, 2012 at 12:05 PM
The steel making at Sparrows Point in my opinion is dead and should stay that way. It's time to look into the future and find better use of the land to create more permanent stable jobs. If another company comes in and takes over I guarantee we will be back on here talking the same points again after another failure. On top of that maybe just maybe the AIR QUAILITY will improve on the eastside of the county and CANCER rates start dropping. @ Hard Hat FYI the President is half white so racism is not an issue the problem is his policies and him trying to be the 21 century Robin Hood.
John T. October 01, 2012 at 07:50 PM
Hard Hat. Sparrows Point is done as far as steel making goes. The final nail was the uncertainty concerning environmental cleanup demands that scared away potential buyers. One of the company's that purchased RG specializes in liquidation - selling off the assets and land. Now, what I said is not racist, or hateful, but it is painfully obvious.
John T. October 01, 2012 at 08:07 PM
Agreed. The only reason that the closing of RG is such a big deal to some - politicians, union members - is because of the labor union and the money given to the democratic party. Where is the concern, or special programs designed for anyone else that loses their job that doesn't belong to a union? There's no money in it, or votes, that's why. If the union is so concerned for their members that lost their jobs, then why don't the union purchase the plant and run it? They've blamed the demise on management, raw material costs, and anything else except the cost of labor, which didn't have anything to do with it. So, it just seems logical for the union to buy it and run it and make a profit with it. There would be harmony between labor and management, since it would be employee owned. They can continue to provide "good paying jobs" to their members, and at the end of the year, they can divide all of the profits too. Sure.
Steve October 01, 2012 at 08:32 PM
Cheap Chinese steel killed it and we have the Bush Administration to thank for that.
Steve October 01, 2012 at 08:37 PM
Portman was almost chosen by Rmoney as VP . http://www.politico.com/news/stories/0712/78936.html
John T. October 02, 2012 at 11:19 AM
You are so predictable. Steve. I have an idea, why don't you try to think for yourself instead of letting the democratic party do all of your thinking for you?
Eastsider October 02, 2012 at 01:33 PM
Steve key word "ALMOST" but he didn't. Who cares??????
Steve October 02, 2012 at 03:44 PM
It's a fact Portman who was a Bush appointee let the tariffs on cheap Chinese steel drop. That's the reason the steel industry is in the mess it's in today. It's also why we ended up importing the entire new Oakland Bay Bridge from China. http://www.nytimes.com/2011/06/26/business/global/26bridge.html?pagewanted=all&_r=0
Eastsider October 02, 2012 at 04:07 PM
Do you also blame unions for the mess? Had many family members down the point and every year they would get the entire summer off on vacation (13 weeks) what a union benefit. This is just one of the ridiculous benefits workers got that was the demise of the Point.
Steve October 02, 2012 at 05:35 PM
No, Unions are easy scapegoats. The real blame falls at the feet of the Vulture Capitalists. The real severe slide began under Rmoney's buddy and fellow Vulture Capitalist Wilbur Ross. It was a One Two Punch when combined with the dropping of the tariffs on Cheap Chinese steel and Bush running the economy into the ground.
Eastsider October 02, 2012 at 06:18 PM
In the 70’s foreign steel was less expensive then US production steel. 1982 Bethlehem Steel reported a loss of 1.5 billion dollars and shut down many of its operations (Republican President Reagan in Office). In 2001 Sparrows point went bankrupt (Democrat President Clinton in office). Since then multiple companies purchased and failed. So what did Bush and his Administration have to do with the failure of Beth Steel? Other than being a Republican. Please take off you Democratic beer goggles it’s distorting your vision to see the truth.
Steve October 02, 2012 at 06:27 PM
Bush lifted the Tariffs on cheap foreign steel prematurely. The industry was just getting back on it's feet and he pulled the rug out from under them. http://www.boston.com/business/articles/2003/12/05/bush_lifts_steel_import_tariffs/
Eastsider October 02, 2012 at 06:33 PM
If anything that was the final nail in the steel making coffin. Beth Steel was on life support way before then.
Mike November 23, 2012 at 11:58 PM
The Bush Administration put the tariffs in place. Clinton wouldn't.


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