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Sparrows Point Steel Mill Sold

Friday, August 10, 2012

Ruppersberger Issues Statement About Steel Plant Sale

The Congressman says that steel plant that has helped build this country for 120 years should remain for another 120 years.

U.S. Rep. C.A. Dutch Ruppersberger on Friday issued the following statement regarding Wednesday's sale of RG Steel's Sparrows Point stell plant to an industrial liquidator: “The Sparrows Point plant and its steelworkers have produced the steel that has literally built our country for the last 120 years. It could and should continue for another 120 years. With a prime location in one of the best deep-water ports in the United States, one of the country’s largest blast furnaces, a state-of-the-art continuous cold rolling mill and the world’s best workers, it remains a viable operation for a smart buyer with access to raw materials. While this week’s auction did not produce this buyer, it did buy time to find one over the next six months. The…

John T.

10:50 am on Monday, August 13, 2012

Agreed. They derive their power by spending money (ours). The more people beholding to them for a check, food stamps, other programs the more power they wield. Most of these poiticians (public servants) are millionaires, if not before, then after they get into office. It just looks like more and more people are becoming sheep that can't do or think for themselves.   more ›

Kamenetz Hopes Steel Production to Resume at Mill

Officials are hopeful that a buyer will come forward with the intent to produce steel, as opposed to dismantling the Sparrows Point plant.

Despite news that RG Steel's Sparrows Point plant has been sold to a liquidator, Baltimore County Executive Kevin Kamenetz remains hopeful that steel production will resume at the storied mill. "We believe that the core steel assets of RG Steel Sparrows Point continue to make this a viable business proposition," Kamenetz said in a statement issued Thursday.  "A savvy buyer with access to the raw materials of steelmaking will find this an attractive investment, with a premiere location and a talented workforce ready to get the job done." While Wednesday's auction sale of the local plant has been cloaked in mystery, reports state that Hilco Industrial, a company with a history of breaking down and liquidating failed manufacturing plants, …

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Kenny L.

8:24 am on Monday, August 13, 2012

The plan is easy and viable, only capital intensive: 1. Add an EAF to run in parallel with L furnace. This would cover the full spectrum of the steel market. 2. Obtain long term ore contracts to match those of SPs competitors. 3. Allow the LNG terminal and build a peaking power facility to reduce the outrageous cost of buying energy from Constellation. If you do those things, you've leveled the …   more ›

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