Local news outlets reported Wednesday that Wheeling, West Virginia-based metals recycler Herman Strauss Inc. has submitted a $15 million bid for 112 acres of land owned by flat rolled steelmaker RG Steel in Steubenville, Ohio. The property Herman Strauss has bid for includes the buildings, equipment and scrap metal stored in the area; Herman Strauss aims to expand its business with the acquisition. The US Bankruptcy Court must approve the sale.
RG Steel filed for bankruptcy last week and is in the process of idling much of its operations and has laid off hundreds of workers. RG is publicly looking for buyers for some or all of its facilities.