Bethlehem Steel Agree to Terms of Sale with ISG

Bethlehem Steel have agreed in principal to terms with International Steel Group (ISG) for the sale of substantially all of their assets.

The agreement is still subject to approval by the board, regulatory bodies such as the bankruptcy court and a handful of other requirements.

The proposed deal with ISG represents the best value achievable for Bethlehem Steel. It will allow their plants to remain in operation and the preservation of thousands of jobs as well as a seamless transition for customers.

The deal includes steel making facilities in Indiana, Maryland and Pennsylvania, as well as finishing operations in New York, Pennsylvania and Ohio and real estate of former Bethlehem operations in New York and Pennsylvania. They are also involved in a number of other joint ventures.

If approved, ISG will become the largest steel producer in North America with a capacity of 16 million tons.

For more information on steel manufacture, click here.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type