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Steel mills to be sold
TORONTO -- Cargill, a Minneapolis-based company that sold the former North Star Steel mill in Youngstown two years ago, is selling other mills. Toronto-based Gerdau Ameristeel Corp. said Thursday it has an agreement to pay $266 million for Cargill minimills in St. Paul, Minn.; Wilton, Iowa; Calvert City, Ky.; and Beaumont, Texas. Also included are three wire rod processing plants and a grinding ball plant.
In 2002, Cargill sold its North Star tubular division, including plants in Youngstown and Houston, for $380 million, to Vallourec & amp; Mannesmann Tubes, a joint venture owned mostly by a French company. The plant is now called V & amp;M Star. Cargill wants to focus on its agriculture feed and food processing businesses.
Vindicator staff report