Esmark
Esmark is a diversified, privately-held family company with a portfolio of industrial companies with strong roots in the steel industry. Over the years, Esmark has diversified its interests and operations into a number of businesses engaged in the industrial and commodity sectors.
Latest News
Massey Energy Says it will Continue to Challenge Verdict in Wheeling-Pitt Dispute
27 May 2008 - Massey Energy says it will continue to challenge a $220 million jury verdict rendered in 2007 for the contract dispute between Massey subsidiary Central West Virginia Energy Co. and Wheeling-Pittsburgh Steel Corp.
Court Denies Massey Energy’s Request for Appeal in Wheeling-Pittsburg Dispute
27 May 2008 - The West Virginia Supreme Court of Appeals denies the request for appeal from Massey Energy and its Central West Virginia Energy subsidiary regarding the judgment entered against them in favor of Esmark’s subsidiary Wheeling-Pittsburgh Steel and its coke plant joint venture and co-plaintiff Mountain State Carbon.
USW Reiterates Support for Severstal’s Purchase of Esmark
22 May 2008 - The United Steelworkers reconfirms its strong support for OAO Severstal's proposal to acquire all outstanding shares of Esmark common stock.
Severstal Makes Competing Bid to Acquire Esmark
21 May 2008 - OAO Severstal makes a proposal to the Esmark Board of Directors to acquire all of the company’s outstanding shares of common stock for $17.00 per share in cash.
Esmark Responds to USW Statements on Collective Bargaining Agreement Provisions
21 May 2008 - Esmark responds to the position taken last week by the United Steelworkers regarding the proposed tender offer and subsequent merger with Essar Steel Holdings Limited.
USW Says Esmark-Essar Agreements are a Violation of Labor Contract
19 May 2008 - The United Steelworkers asserts that Esmark’s agreements with Essar Steel Holdings are in direct violation of its collective bargaining agreement with the union.
Esmark Settles Lawsuit with Herman Strauss
12 May 2008 - Esmark confirms settlement of litigation pending between its Esmark Steel Service Group and Herman Strauss, Inc. over scrap purchased by Wheeling-Pittsburgh Steel.
Esmark Responds to ‘Frivolous’ ArcelorMittal Lawsuit
12 May 2008 - Esmark indicates surprise and disappointment in response to ArcelorMittal’s suit against Esmark and E2 Acquisition for breach of their contract to purchase the Sparrows Point steelmaking facility.
ArcelorMittal Files Suit against Esmark/E2
09 May 2008 - ArcelorMittal has filed suit against Esmark Inc., E2 Acquisition, seeking in excess of $540 million for breach of its contract to purchase Sparrows Point.
Esmark Receives Financing Package from Essar Steel Holdings
07 May 2008 - Essar Steel Holdings completes a new $31 million term loan facility to its wholly owned subsidiary Esmark Steel Services Group and refinancing of the existing $79 million Government guaranteed Wheeling-Pittsburgh Steel term loan.
Esmark Announces Year-End Results
01 May 2008 - Esmark reports a net loss of $12.3 million on net sales of $313.4 million for the fourth quarter, and a net loss of $9.0 million on net sales of $825.6 million for the year ended December 31, 2007.
Esmark Agrees to Merge with Essar Steel
01 May 2008 - Esmark agrees to the material terms of a proposed tender offer and merger with Essar Steel Holdings Limited for a cash purchase price of $17.00 per share.
Esmark on Notice from Nasdaq for Delay in Filing Form 10-K
28 April 2008 - Nasdaq notifies Esmark that the company is no longer in compliance with Nasdaq Marketplace Rule 4310(c)(14) for continued listing due to Esmark’s failure to timely file its 2007 Annual Report on Form 10-K with the Securities and Exchange Commission.
Esmark to Sell Minority Interest in Wheeling Nisshin
10 March 2008 - Esmark Inc. has entered into an agreement to sell its 35.7% equity interest in Wheeling-Nisshin for $71.4 million.
Esmark Receives Underwritten Commitment for New Credit Facility
05 February 2008 - Esmark accepts commitment from GE Corporate Lending, its lead lender, for a fully underwritten $500 million revolving credit facility that will replace an existing $150 million revolver at Esmark Steel Service Group and a $225 million revolver at Wheeling-Pittsburgh.
Esmark Names President of Wheeling Corrugating
22 January 2008 - Esmark announced the appointment of steel industry veteran Joel Mazur as President of its Wheeling Corrugating division.
Esmark Announces New Management for Core Business Segments
09 January 2008 - As it aligns management responsibilities with its two business segments—Mill Operations and Downstream Operations—Esmark announces several executive appointments that take effect immediately.
Esmark Acquires U.S. Metals and Supply
10 March 2005 - Esmark Inc. announced its acquisition of U.S. Metals and Supply Co. for $16 million.
Esmark Completes Acquisitions of Electric Coating Technologies and Sun Steel
19 February 2004 -
Esmark Completes Acquisition of Century Steel
05 January 2004 - Esmark, Inc. has completed its purchase of the assets of Century Steel LLC for $40 million in cash.
