Bethlehem Steel’s board of directors voted to sell substantially all of the company's assets to the International Steel Group, headquartered in Cleveland, Ohio.
"Following the board's affirmative vote this afternoon, Bethlehem will move quickly to finalize the asset purchase agreement with ISG to complete this sale early in the second quarter of this year," said Robert Miller, Bethlehem's chairman and CEO. "This sale will provide a new beginning for our employees and our operations, which will continue without interruption during the change of ownership. ISG highly values Bethlehem's assets, which is good news for our employees, customers, suppliers and communities.
"The domestic steel industry is changing rapidly as several transactions are underway to consolidate the nation's firms and make them more internationally competitive. The sale of Bethlehem to ISG will create North America's largest steel company and will help our operations remain a vibrant part of a reinvigorated steel industry.
Latest from Recycling Today
- Greenwave raises revenue but loses money in Q2 2025
- Recycled steel prices hold steady
- EY says India’s need for scrap imports will continue
- Coming full circle
- Amcor, DCM introduce fertilizer packaging with 35 percent recycled content
- Comstock Metals gets closer to commissioning commercial-scale solar panel recycling facility
- Washington selects Circular Action Alliance as PRO
- Smurfit Westrock expands in Latin America
