RG Steel to auction off more plants

The sale of assets at bankrupt RG Steel LLC continues, this time with word of the sale of a plant on the Ohio/West Virginia border.

Reuters reported that the Mingo Junction facility is being sold for $20 million. The buyer is Frontier Industrial in Buffalo, N.Y. The News-Register newspaper in Wheeling, W.Va., said that one of the Mingo Junction plant’s features is an eight-year-old electric arc furnace that cost $115 million at the time.

Reuters said last week that other RG plants in Warren, Ohio, and Sparrows Point, Md., will be auctioned off this week.


Source: BussinesJournals.com