According to BuffaloNews.com, “A local investor and development group paid $3.5 million Monday to buy the former Bethlehem Steel plant in Lackawanna, with plans to turn the sprawling 160-acre site into a multitenant business park.

Great Lakes Industrial Development LLC bought the former Bethlehem Steel Galvanized Products Division complex on Route 5, including the idle Bethlehem Cold Mill, from global steelmaker ArcelorMittal, which had shut the plant down in May 2009 after it curtailed U.S. steel production.

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