Steelworkers union leaders to meet to consider life after RG

Steelworkers union leaders to meet to consider life after RG

Associated Press

WARREN

Historic changes for the region’s steel industry are starting to be realized following a federal bankruptcy court judge approving several sales of assets - steel mills - which have been owned for a little more than a year by now bankrupt RG Steel.

One of the most historic aspects of these transactions is they are forever severing any sort of formal business based “family ties” that had for decades previously unified the mills as being part of a rare steel industry dynasty: Wheeling-Pittsburgh Steel Corp.

RG Steel’s bankruptcy has proven gut wrenching and devastating to individuals, families and communities within driving distance of any of the mills: Warren, Steubenville, Mingo, Yorkville, Martins Ferry, Follansbee and Sparrows Point, Md.

Timing is everything, even in the steel industry.

Experts in the steel industry and in several related fields continue to see the unusual “fire sale” pace RG set for selling the assets as having been detrimental rather than positive, in that possible bidders may not even have been aware the process had started much less was coming to a conclusion.

Each of the plants owned by RG will now be heading down an individual path; some see flickers of hope at the moment when it comes to the possibility of re-establishing some level of production at their respective mill.

But nothing could really or can really be done to begin an ownership change until court approval was or is given for each proposed change of ownership.

Now that those seals of approval from the court have started to happen, the dominos are beginning to fall, as details small and large surface as direct results of the action and coming changes in ownership, and each has to be reviewed, addressed and gain approval from the court.

It appears that process has begun.

Proof of that process getting under way will be marked by a unique gathering of union officials in Pittsburgh on Monday.

The meeting: one of last times presidents of the local unions whose members work for RG Steel, and are represented by the United Steelworkers Union, will come together to discuss the facts of day to day life under the ownership of the now bankrupt company owned and controlled by billionaire Ira L. Rennert.