Severstal Wheeling, of Severstal North America, has announced that it intends to sell its idled steel sheet finishing plant in Allenport, Pennsylvania to Chino Hills, California-based North American Trading Co.
The Pennsylvania plant includes 400 acres of land with a pickle line, tandem mill, box anneal facility and a temper mill, which are all essential to the final forming and conditioning of steel sheets.
North American Trading Company's owner, William R. Kingston has announced plans to produce a type of cold rolled steel that will be clad with a thin coat of stainless steel. The plant could need up to $400 million in upgrades before it reaches full production capacity, which it expected to be implemented in stages over the next five years.
The plant has been closed since mid-2008 when Esmark sold Wheeling-Pittsburgh's minority interest in Wheeling-Nisshin Inc.