Hilco, Environmental Liability Transfer purchase RG Steel mill
Joint-venture partners Hilco SP LLC, Northbrook, Ill., and Environmental Liability Transfer Inc. (ELT), an affiliate of Commercial Development Co. Inc. (CDC), have announced their purchase of the former RG Steel mill at Sparrows Point, Md. The mill was idled after RG Steel filed for bankruptcy in May.
Spokespersons indicated options for the property include new operators for the mill in its entirety or some of the manufacturing facilities and operations within the 3,400-acre site. Another option being considered is the removal and resale of industrial equipment and structural demolition for eventual redevelopment.
Major components of the mill include the second-largest blast furnace in North America, a BOF and continuous caster, hot mill, tin facility, four galvanizing lines, and a self-contained cold-rolling complex.
Hilco is a privately held, diversified financial and operational services firm. CDC is a real estate development firm specializing in the development, acquisition, and redevelopment of major North American commercial and industrial sites.