Trade Resources Market View AP Reported That a Union Official Representing Steelworkers

AP Reported That a Union Official Representing Steelworkers

AP reported that a union official representing steelworkers at the shuttered Sparrows Point steel mill reacted angrily to reports key mill equipment has been sold.

Mr Joe Rosel, president of a United Steelworkers local in Sparrows Point, said no one will want to buy the plant without the cold mill equipment.

Mr Rosel vowed to organize a rally and said union officials would talk with state officials to see if the new owners can be forced to find an operator.

Mr Rosel said the union has been working with an investment firm to find potential operators.

The Baltimore Sun and a trade publication reported that the equipment had been sold for spare parts to another steelmaker.

A federal bankruptcy judge approved the mill's sale earlier this year to industrial liquidator Hilco Industrial. new owners said they would look for operators to buy the property at a second auction. Bids were due by December 21. Now that auction has been canceled. Co owner Hilco Trading says on its site for Sparrows Point that it is offering production lines and components in a private sale.

Source: http://www.steelguru.com/international_news/Sparrows_Point_union_head_angered_over_sale_report/295147.html
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Sparrows Point union head angered over sale report
Topics: Construction