Wheeling-Pittsburgh Corp.’s board of directors and Esmark Inc. have entered into an agreement to combine the two companies. The transaction is expected to be complete by this summer.
The combined company will use the Esmark Inc. name.
The newly merged company will be headed by James Bouchard, chairman of the board and CEO, and Craig Bouchard will be vice chairman and president.
In commenting on the acquisition, James Bouchard said, "Today marks an important milestone in our vision to build the most efficient downstream steel production and distribution company in the U.S. By blending the mini-mill, service center, converter and finishing assets of the two companies, we expect to be able offer our customers across the Midwest a low-cost production and just-in-time delivery method unrivaled in the domestic steel industry."
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