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Former Wheeling-Pitt Mill Gets a New Owner, and a New Lease on Life
11/30/2016 - A shuttered mill that once belonged to Wheeling-Pittsburgh Steel has been sold to an entity that intends to return it to service.
The entity, called ACERO Junction, is acquiring the Mingo Junction, Ohio, facility for an undisclosed amount, according to the Frontier Group of Companies, a brownfield redeveloper that purchased the site several years ago. The deal closed on Wednesday, it said.
“The idle plant will see new life as steelmaking operations come back to this area of Ohio,” said Frontier Group chief executive David Franjoine in a statement.
“This is an exciting time as jobs and commerce comes back to the part of Ohio hit hard by the slowdown in domestic steel production. ACERO Junction is making a significant investment to bring the Mingo Junction steel plant back online,” he said.
The assets involved in the sale include the mill’s electric arc furnace, which was installed in 2004, and an 80-inch hot strip mill. The mill was idled in 2009, and Frontier Group acquired the site out of bankruptcy from RG Steel in 2012.
Rumors of a potential restart have been swirling for more than a year. In fact, The (Wheeling, W.Va.) Intelligencer, said in August that people reportedly were being hired to help reopen the facility.
The Frontier Group said in its statement that preparations for a restart began several months ago. Dozens of construction and support personnel have been on-site, it said.
The company, however, did not provide any details on ACERO Junction’s plans for restarting the mill. The announcement also didn’t offer any details as to the identity of the buyer.
American Metal Market, however, reported that it could be ACCIL International LLC, a Pittsburgh-based company that it siad appears to be related to India’s Asian Colour Coated Ispat Ltd.
“The idle plant will see new life as steelmaking operations come back to this area of Ohio,” said Frontier Group chief executive David Franjoine in a statement.
“This is an exciting time as jobs and commerce comes back to the part of Ohio hit hard by the slowdown in domestic steel production. ACERO Junction is making a significant investment to bring the Mingo Junction steel plant back online,” he said.
The assets involved in the sale include the mill’s electric arc furnace, which was installed in 2004, and an 80-inch hot strip mill. The mill was idled in 2009, and Frontier Group acquired the site out of bankruptcy from RG Steel in 2012.
Rumors of a potential restart have been swirling for more than a year. In fact, The (Wheeling, W.Va.) Intelligencer, said in August that people reportedly were being hired to help reopen the facility.
The Frontier Group said in its statement that preparations for a restart began several months ago. Dozens of construction and support personnel have been on-site, it said.
The company, however, did not provide any details on ACERO Junction’s plans for restarting the mill. The announcement also didn’t offer any details as to the identity of the buyer.
American Metal Market, however, reported that it could be ACCIL International LLC, a Pittsburgh-based company that it siad appears to be related to India’s Asian Colour Coated Ispat Ltd.
