Georgetown Steelworks could reopen under new ownership

Georgetown Steelworks could reopen under new ownership

GEORGETOWN, SC (WMBF) – Georgetown Steelworks, an important part of South Carolina's industrial infrastructure for 47 years before it closed in Aug. 2015, could reopen and revitalize if a deal goes through as planned.

According to a news release, global industrial and metals group, Liberty House, has reached an agreement in principle with ArcelorMittal to purchase the steelworks and its 600,000-ton-per-year electric arc furnace and 750,000-ton-per-year rod mill.

"We are pleased to have an agreement in principle with Liberty House on the sale and restart of our former wire rod mill in Georgetown. We have achieved our goal of identifying a purchaser with extensive steel experience and a commitment to returning this site to its steelmaking capability," said ArcelorMittal USA President and CEO John Brett. "We hope the community will welcome this opportunity that will preserve the facility and equipment and create good jobs with good wages. We look forward to working with the city of Georgetown and all impacted stakeholders while we finalize this important agreement with Liberty in the near future."

Liberty House has been in discussion with the United Steelworks and is confident the union will support and assist in the process of recruiting a workface to reopen the plant and rebuild the business, the release stated.

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