Bethlehem Steel sells its pipe mill

Bethlehem Steel sells its pipe mill

Capital Region Economic Development Corp. in Harrisburg bought former Bethlehem Steel pipe mill with the plans to renovate the building and lease it to another steel company which wants to begin making pipes at the mill. The company has paid $500'000 for Steelton pipe mill, three adjacent buildings and 58 surrounding acres to International Steel Group Inc. (ISG). According to information obtained from a representative of the company that the four buildings will be cleaned up from asbestos while the grounds will be clenaed up from oil. The renovation is aimed to complete up to 18 months. The state will invest $1.5 million in loans and a $250'000 grant to this project. Furthermore, Dura Bond Industries Inc., of Export, Pa. has leased the mill for pipe making. The mill's pipe making machinery has purchased from ISG. After the renovation, the production will be started in 6-9 months. The mill has been idle for three years on the former Bethlehem Steel land which is leased by Dura Bond. The pipe mill is located at the southern end of the former Bethlehem Steel site in Steelton along the Susquehanna River. The mill will create job oppurtunities for about 80 employees. Bethlehem Steel which has been under Chapter 11 bankruptcy court protection since October 2001, has been acquired by International Steel Group. ISG's offer of $1.5 billion was accepted by Bethlehem Steel authorities previously.