December 17: ArcelorMittal has abandoned the sale of its Sparrows Point steel mill to E2 Acquisition Corporation because the group failed to secure financing.
The Sparrows Point operation, near Baltimore, is among ArcelorMittal’s largest US production plants with a crude steel capacity of 3.5 million metric tonnes a year, of which some 450,000 tonnes are tin mill products.
E2 is led by family-owned Chicago-based steel services company Esmark and includes Brazilian iron ore and metals producer Vale, Ukrainian steel maker Industrial Union of Donbass, and Franklin Templeton Investments of California.
