The Baltimore Sun reported that an out of state steelmaker has bought the most valuable piece of the Sparrows Point plant to use as spare parts, a move that could kill the last hopes that the steel mill might be purchased by an operator and reopened.
American Metal Market reported late Wednesday that John Ferriola president of Nucor Corp, which had acquired the major portion of Sparrows Point's 12 year old cold mill, told the trade publication that the acquisition would be used for upgrades and to replace parts at the company's own mills.
An official with knowledge of the transaction confirmed Wednesday night that Nucor bought the cold mill and would not operate it at the Baltimore County plant.
The cold rolling work at Sparrows Point produced precision thickness steel. Built for USD 300 million and opened in 2000, the cold mill was hailed as an economic engine capable of making steel for containers, machinery, car parts, metal furniture and other items.
