The announcement of a new steel fabrication facility coming to Sparrows Point to create parts for a wind farm off the coast of Maryland comes amid a time of turbulence and change for Maryland’s manufacturing industry.
The development of offshore wind in Maryland was propelled forward on Tuesday, as the company responsible for a wind farm project off the coast of Ocean City announced both an expansion to that project as well as the creation of a new steel facility in Baltimore County. The US Wind, Inc., projects are anticipated to bring thousands […]
A Maryland manufacturer faces business and job losses in the wake of the Trump administration’s announcement Thursday it would impose tariffs on steel and aluminum imported from the European Union, Canada and Mexico. Independent Can Company, located in Harford County, has some reserves of the steel it needs to make its specialty tin cans, but once those […]
Independent Can’s dilemma: It can’t find domestic steel for its products and is worried that tariffs could lead to job cuts – or worse.
DOVER, Del. — Bankrupt steelmaker RG Steel is working with creditors to resolve issues surrounding the sales of its steel mill facilities. Attorneys for various creditors told a Delaware bankruptcy judge during a telephone hearing Wednesday that substantial progress has been made on resolving the issues. Creditors for the most part are trying to preserve […]
Barring a last-minute infusion of cash by bankers or owner Ira Rennert – or an improbable sale to a new company – RG Steel LLC and its flagship plant, Sparrows Point, seem fated for a sad ending. I make this statement as someone who has reported on the onetime largest steel mill in the world […]
WILMINGTON, Del. — RG Steel LLC won preliminary approval of a bankruptcy financing plan on Friday as the troubled steelmaker works to find a buyer in the next two months for its Sparrows Point plant and two other facilities. A Delaware bankruptcy judge also granted the company’s motions to continue paying employees and vendors whose […]
A spokeswoman for RG Steel says the company is considering selling steel mills in three states, including the Sparrows Point plant outside Baltimore. RG Steel spokeswoman Bette Kovach on Monday confirmed reports that potential buyers have expressed interest in acquiring company facilities and all options are on the table. Kovach did not provide any further […]
WASHINGTON — Demand for U.S. factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary. The Commerce Department said Wednesday that orders for factory goods fell 1.5 percent. That was the steepest […]
HAGERSTOWN — A piece of the World Trade Center is becoming the centerpiece of a Sept. 11 memorial in Hagerstown. City and Washington County officials plan a dedication ceremony Tuesday evening at City Park. A local committee acquired the 727-pound piece of steel in May. The event includes a procession of more than 40 emergency […]
WASHINGTON — Businesses increased their orders for heavy machinery, computers, autos and steel in March, boosting demand for long-lasting manufactured goods for a third straight month. Orders for durable goods rose 2.5 percent in March, the Commerce Department said Wednesday. That’s up from a revised 0.7 percent increase the previous month. A key category considered […]
RG Steel LLC, an affiliate of The Renco Group Inc., said Thursday it had closed its $1.2 billion deal to buy three steel plants, including the former Bethlehem steel plant at Sparrows Point, from OAO Severstal. In addition to Sparrows Point, RG Steel purchased integrated steel plants at Warren, Ohio, and Wheeling, W. Va. The […]