February 15: Esmark, a Chicago-based steel services company, could potentially control a quarter of the US tinplate market if it succeeds in buying the Weirton, West Virginia, operations from Mittal Steel USA.
Mittal must sell either Weirton or the Sparrows Point mill near Baltimore to satisfy antitrust concerns raised by its ongoing merger with Europe’s Arcelor.
At the end of January Mittal and Esmark signed a non-binding memorandum of understanding regarding the sale of Weirton’s hot strip mill and tinplate lines.
The deal is subject to approval by the Department of Justice and agreements with the unions. Former International Steel Group (ISG) executive Mitchell Hecht has also expressed interest in the works.
