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Judge approves sale of RG Steel facilities

WILMINGTON, Del. — A Delaware judge has approved the sale of two Ohio facilities owned by bankrupt steelmaker RG Steel LLC.

The judge on Wednesday approved the sale of RG Steel’s Mingo Junction and Martins Ferry facilities for $22 million.

A hearing on the sales of other RG Steel assets, including the Sparrows Point steel mill near Baltimore, is scheduled for next week. An auction for the Sparrows Point mill on Tuesday ended with a concluding bid of $72 million from Hilco Industrial, a company that specializes in industrial liquidations.

Frontier Industrial Corp. submitted a winning bid of $20 million for the Mingo Junction facility. An attorney for Frontier said parts of the Mingo Junction facility will be demolished, but that there is a chance that certain operations at the site could continue.