RG Steel facility in Warren changes ownership again

RG Steel facility in Warren changes ownership again

WARREN

Hilco Trading of Northbrook Ill. has purchased the steel making assets at the former RG Steel from BDM Warren Steel Holdings.

This includes the company C.J. Betters and two other business partners had purchased out of bankruptcy.

Gary Epstein, chief marketing officer for Hilco, said in a news release that Hilco will seek buyers for the facility as a whole or in part.

“Hilco will run a sale process that will include continuing to market the steel making complex, vetting and evaluating all offers,” he said.

The mill was sold last in September 2012

“Our goal is to do everything possible to find a purchaser for the facility that can operate the hot mill facility as a going concern,” said Epstein.

There may be some “precision demolition work” completed at the cold-mill site, he said. But Hilco “remains focused on finding a buyer, making every reasonable effort to get the hot steel making operation up and running again,” according to the release.