Posted in | News | Ferrous Alloys and Metals | Iron and Steel

Weirton Steel to Recommend ISG Bid

Apr 16 2004

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Following the closed doors auction on April 13, Weirton Steel who filed for Chapter 11 bankruptcy on May 19, 2003 have decided to recommend to the bankruptcy court that they approve the offer put forward by International Steel Group.

The International Steel Group bid was considered to be more attractive than a bid put forward by a group of secured noteholders.

International Steel Group had also formed an agreement with the Independent Steelworkers Union who also endorsed their bid.

For more information on steel manufacture, click here.

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