Another extension for sale of Mittal Steel plant at Sparrows Point?

Daily Record, The (Baltimore), Jul 23, 2007 by Andy Rosen

Friday, the final deadline for the sale of the Mittal Steel Co. NV plant at Sparrows Point, will likely pass without a new owner for the facility.

A spokesman for ArcelorMittal, which has been ordered to sell the plant to allay anti-trust concerns, said by e-mail that the company has asked for an extension through August 6 as it continues to work on a deal for the property.

Bill Steers, of ArcelorMittal, said the U.S. Department of Justice "does not oppose" the extension, but could not go into further detail. Officials from the Justice Department were not immediately available to confirm those details.

Mittal is merging with Arcelor SA to create the world's largest steelmaker, and in February the Department of Justice ordered the company to sell the Sparrows Point mill to decrease its U.S. market power. At that time, the company was given 90 days to complete the deal, with a potential for 60 days' worth of extensions.

Friday is the last day of that timeframe, but it appears that the company will be able to hold onto the plant for at least a few more weeks while it finds a buyer.