Sale of Mill getting good reaction
Tribune Chronicle – WARREN – News of Severstal's Warren steel mill being sold as part of a package deal to private equity firm Renco Group Inc. is receiving a positive reception among lawmakers and other elected officials.
The estimated $1.2 billion deal also involving Russias OAO Severstal plants in Wheeling, W.Va.; and Sparrows Point, Md., is expected to close this month pending regulatory approval.
U.S. Senate Sherrod Brown says he ecouraged by Wednesdays news.
I was also glad to see that RG Steel made an effort to work with the United Steelworkers Local to maintain collective bargaining rights as part of the deal, said Brown, D-Ohio. Steel has and always will play an important role in Ohios economy and our manufacturing heritage, and Im hopeful that RG Steel will continue to put Ohio workers steel expertise to good use at all of these mills.
