Steel Products
Sparrows Point & Warren Assets to be Auctioned
Written by Sandy Williams
January 16, 2013
Written by: Sandy Williams
Former RG Steel assets from both Sparrow Point and Warren are headed for the auction block.
Sparrow Point assets are being offered by Hilco Industrial at an onsite auction January 23-24 and will include mobile, construction, material handling and support equipment along with spare parts and production lots. An online auction from January 23-29 will offer hand and power tools and maintenance equipment.
Available immediately are the independent steel production lines or key components of the lines along with lease or purchase of a portion of the real property owned by Sparrows Point, LLC. Buyers are not precluded from removing assets from the property.
RG Steel assets from the Warren facility go on the auction block March 12 for a four day liquidation sale by BDM Warren Steel Holdings.
“The auction will not include any assets used in the steel production process for the hot strip mill,” said BDM Warren Steel Holdings partner Charles Betters. When BDM Warren purchased the bankrupt mill from RG Steel in May, it promised to allow nine months to find a new operator before scrapping the facility.
“We committed to 9 months, and we do take that seriously,” said Betters. “We winterized it. We are working. I am still out there meeting with people. We are still trying to kindle interest. But there is only one thing for sure, I am not running it.” (Source: Steel Trade Today)
Sandy Williams
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