|
|
Article: Birmingham Steel Corporation Signs Definitive Agreement to Sell Cartersville Operation; AmeriSteel to Purchase Cartersville Operating Assets.
- Article from:
- Business Wire
- Article date:
- November 14, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
BIRMINGHAM, Ala.--(BUSINESS WIRE)--Nov. 14, 2001
Birmingham Steel Corporation (NYSE:BIR) today announced it has signed a definitive agreement to sell its mini-mill facility in Cartersville, Georgia, to AmeriSteel Corporation, a U.S.subsidiary of Gerdau S.A. (NYSE:GGB) of Rio de Janeiro, Brazil. The terms of the transaction were not disclosed. The Company said the transaction is expected to close prior to December 31, 2001.
The transaction is subject to certain conditions, which include obtaining regulatory approvals and approval by the lenders of Birmingham Steel ("the Company") and Birmingham Southeast, LLC ("BSE, LLC"). The ...