Weirton Steel tender ends

Weirton Steel tender ends

According to recent news in the market, auction of Weirton Steel ended on April 13, 2004. As previously reported by SteelOrbis, International Steel Group (ISG) and the creditors group were the bidders in the auction. ISG offered $255 million, while the creditors group offered $261.2 million for the assets of Weirton Steel. Now the board of directors will inform the court which bid they favor. On the condition that court approves the sale of Weirton Steel to ISG, ISG will be the country's second largest tin maker. It is stated that this situation, as it may give rise to big price increases, creates concern among tin users.