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3-Day Auction Set for RG's Non-Steelmaking Assets
WARREN, Ohio -- An auction of non-steel production assets at the former RG Steel mill here is scheduled for March 12-15 at the idled plant site. A listing by Maynards, a Canadian liquidation house, stipulates the liquidation “excludes any assets used in the steel production process for the hot strip mill.”
BDM Warren Steel Holdings LLC, an entity formed by Monaca, Pa., developer and scrap dealer Charles J. Betters, purchased the mill in August through U.S. Bankruptcy Court in Delaware. BDM paid $17 million for the facility and Betters subsequently promised to initially pursue restarting operations.
This morning’s edition of the Warren Tribune-Chronicle quotes Betters as saying, “We committed to nine months, and we do take that seriously.” The auction is intended to recoup some of BDM’s investment, he said, including the cost to winterize the mill should an operating group come forward to operate the plant.
Maynards is working in conjunction with Myron Bowling Auctioneers, Ross, Ohio; PPL Auction, Northbrook Ill., Cincinnati Industrial Auctioneers, Cincinnati, BidItUp Auctions & Appraisals Worldwide, Studio City, Calif., and Council RB Capital LLC, a New York company that describes itself as specializing in “distressed and surplus capital assets transactions.”
Here is a list of materials and equipment to be sold during the three-day auction as posted at Maynards’ website:
- 5) KRESS SC200T and SC160 Slab Haulers AS NEW AS 2009
- (5) KRESS/ROYAL Coil Haulers
- (6) EBNER Hicon H2 Annealing Furnaces
- Complete Large Capacity Machine Shop Including Long Bed Lathes, Horizontal and Vertical Boring Mills, Wheel Press, MAZAK CNC Vertical Machining Centers, Grinders, Planers, Slotters
- Complete Fabrication Shop Including 1,000 ton Hydraulic Press Brake, Powered Finger Brake, Pyramid Rolls, Late Model Vertical Band Saws and Welding Machines, Iron Workers
- Complete Pipe Fabrication Shop
- Complete Carpentry Shop
- Complete Tractor Maintenance Shop
- Over 1,000 New and Used Electric Motors up to 25,000 Horse Power
- (3) CAT Backhoes
- (2) CAT 769C Haul Trucks
- (5) CAT 988, 980G, 966F Wheel Loaders
- (17) 200 Ton Torpedo Hot Metal Cars
- (50+) CATERPILLAR/SELLICK/ELWELL PARKER Forklifts up to 33,000# Capacity
- (25+) Pickup and Service Trucks
- (2) GROVE RT500C and RT58E Mobile Cranes
- (2) KUBOTA RTV 900
- (10) Large Capacity In-Plant Trailers
- Buildings Full of Spare Crane Parts
- 1,000,000# + Raw Material--Plate, Channel, Rounds, Flats, Bar
- NUMEROUS Slitting Lines, Pickle Lines, Galvanizing Lines, Silicone Annealing Line, Roll Forming Lines, Temper Mills
- (25+) Bridge Cranes up to 60-Ton Capacity
- Roll Grinders
- (100+) Spare Rolls
- Over (500) Hand Tools
- and Much Much More
Published by The Business Journal, Youngstown, Ohio.
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