Esmark to buy Weirton from Arcelor Mittal

Esmark Inc. has confirmed that it has signed a memorandum of understanding with Arcelor Mittal to buy the assets of Arcelor Mittal's tinplate plant in Weirton, West Virginia. Esmark, a Chicago-based steel producer and distributor, said it will buy the hot rolled, cold rolled, coated and tin assets of the Weirton plant. Excluded from the deal are Weirton's iron and steelmaking facilities - a blast furnace, caster and basic oxygen furnace - idled since 2005. The deal will satisfy US antitrust rules after the original plan for the sale of Dofasco to ThyssenKrupp AG was blocked by a trust fund set up by Arcelor SA before it was acquired by Mittal last year. US antitrust regulations then required that Mittal sell either its Weirton or Sparrows Point plant. Esmark said that a final purchase agreement is expected by February 2. The financial details of the deal have not been disclosed.