Market briefs.(Business)

0 Comments | Daily Herald (Arlington Heights, IL), January, 2007

Mittal may sell mill to Esmark CHICAGO - Mittal Steel Co. said Thursday it is in negotiations to sell parts of its West Virginia operations to Esmark Inc., the rapidly growing steel supplier that seized control of nearby Wheeling-Pittsburgh Corp. last fall. Mittal spokesman Dave Allen said a nonbinding memorandum of understanding has been signed.

Mittal's U.S. operations are based in Chicago. Esmark is based in the Chicago area. A deal would mean 1,250 workers at the former Weirton Steel Corp. are now facing their third potential change of ownership since 2003. Netherlands-based Mittal must sell one of its U.S. assets to resolve antitrust issues raised by its ongoing merger with Arcelor SA of Luxembourg.

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