Business Services Industry
Canadian company to acquire North Star Steel plant in Beaumont, Texas.
Knight Ridder/Tribune Business News, September, 2004
By Dan Wallach, The Beaumont Enterprise, Texas Knight Ridder/Tribune Business News
Sep. 11--A Canadian company intends to acquire the North Star Steel-Texas Inc. mill and other mills owned by Cargill Inc.
A spokeswoman for Toronto-based Gerdau Ameristeel said the company should complete its acquisition by later this year of the Beaumont plant and three others for a combined cash price of $266 million.
Gerdau's spokeswoman, Stephanie Shelton, said the company intends to honor a union contract to which Cargill and members of the United Steelworkers union agreed this past January.
"It's our intent to operate these businesses as they are," she said Friday in a telephone interview.
"We're not buying these things to shut...
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