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Frontier takes close look at Mingo plant

September 21, 2012
By LINDA HARRIS - Business editor (lharris@heraldstaronline.com) , The Herald-Star

MINGO JUNCTION - The company that purchased the Mingo Junction works out of bankruptcy still is gauging the feasibility of restarting parts of the mill.

The Mingo Junction plant, idled for several years, most recently had been owned by RG Steel, which filed for Chapter 11 bankruptcy protection in May while it liquidated its holdings. The Mingo plant was among the RG Steel properties sold at court-authorized auctions in August.

New York-based Frontier Industrial acquired the mill for $20 million. Last week, Frontier finalized the acquisition of the land itself for $2 million, listing it under the name "Mingo Junction Steel Works LLC."

In published reports earlier in the week, Frontier Vice President Craig Slater reiterated the company is "seriously considering operating this facility again. We are talking to a number of folks, a number of capital funds, about restarting this facility."

Slater also said former Chief Operating Officer Mark Whalen could play a lead role if, in fact, Frontier does opt to restart steelmaking operations.

He also said the slag recycling aspect of the business and the cogeneration facilities would likely "come back to life" regardless of what becomes of other assets at the Mingo Junction works.

RG Steel had acquired the Mingo mill from Severstal NA. Prior to Severstal, it had been part of Esmark Steel and Wheeling-Pittsburgh Steel.

(Harris can be contacted at lharris@heraldstaronline.com.)

 
 

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