ISG completes Georgetown Steel acquisition

ISG completes Georgetown Steel acquisition

According to recent statement released by International Steel Group, the company has completed the acquisition of assets of Georgetown Steel. Bid of ISG includes cash payment of $18 million, plus assumed liabilities. Georgetown Steel was a producer of high quality steel rods and ISG will reopen and operate the mill. Georgetown Steel has annual steelmaking capacity of 1 million and rolling capacity of 800'000 tons. Moreover, annual Direct Reduced Iron (DRI) capacity of the mill is 500'000 tons.