Renco Group re-acquires Warren mill from Severstal
The Renco Group Inc., which owned the former WCI Steel in Warren as recently as 2006, has purchased the mill from Russian-based OAO Severstal.
The purchase, valued at $1.2 billion, also includes the Sparrows Point mill in Baltimore, Md. and Severstal Wheeling in West Virginia, plus 50 percent ownership of Mountain State Carbon, a coke-making facility in Follansbee, W.Va., and Oak Coatings Co. in Yorkville, Ohio.
The purchase will provide Renco, through its newly formed subsidiary, RG Steel, with approximately 7.5 million tons of steelmaking capacity annually, The Renco Group said in a press release.
“The formation of RG Steel will create a dynamic service-oriented company with strategically-located facilities led by newly appointed president and chief executive officer John Goodwin and a seasoned team of steel-industry executives,” said Ari Rennert, president of the Renco Group, Inc.