Mittal Steel Company was given an additional 15 days to sell a Maryland steel mill by the Justice Department on Wednesday. The Netherlands-based company must divest itself of its Sparrows Point plant to settle anti-trust issues.
Gina Talamona, Justice Department spokeswoman, stated in an e-mail that the extension gives Mittal until July 5 to sell its Sparrows Point plant near Baltimore. Under the consent decree issued on Feb. 20, the government can extend the period for up to another 15 days if necessary.
A spokesman for Mittal Steel USA in Chicago, William Steers, said in an e-mailed statement that the company was working with the Justice Department regarding the sale of the Sparrows Point plant. The federal agency "has been heavily involved throughout the process and we will have a formal announcement at the conclusion of the process."
Mittal was ordered by the Justice Department to sell Sparrows Point as a condition of the company's pending merger with Arcelor SA of Luxembourg. The government has to maintain healthy US competition in the production of tin-plated steel to make cans for food, aerosol sprays and paint. The $33 billion merger between Mittal and Arcelor will create the world's largest steel company known as Arcelor Mittal.