Friday, September 12, 2014PITTSBURGH -- Esmark Inc. says it is converting the former Ohio Cold Rolling Co. steel finishing mill in Yorkville, Ohio, into a tri-modal industrial services terminal to support companies engaged in oil and gas exploration and production in the Marcellus and Utica shale plays.
Esmark, which two years ago acquired the Yorkville steel finishing mill from bankrupt RG Steel and recently announced its closing, will repurpose the one million-square-foot facility into the newly named Yorkville Energy Services Terminal.
The tri-modal (rail/truck/barge) logistics and transportation hub will support companies in Ohio, Pennsylvania and West Virginia. Conversion and initial retrofitting is already underway, the company said.
Market dynamics, pricing disparities in the hot-rolled steel and tinplate markets, and growth of oil and gas exploration and production in the region were key factors in the decision to repurpose the Yorkville facility, said James P. Bouchard, founder, chairman and CEO of Esmark Inc.
“The steel services industry has changed dramatically since Esmark acquired the Yorkville finishing mill in 2012, and we believe the idled facility was ideally suited to serve companies engaged in oil and gas exploration and production,” Bouchard said in a prepared statement. “With its on-site rail, truck and barge access and complementary heavy equipment, Yorkville Energy Services Terminal offers companies a fully integrated logistics and transportation solution.”
As many as 50 to 75 jobs could be created at the terminal, the company said.
Esmark is a diversified, privately-held family company with a portfolio of industrial companies with strong roots in the steel industry. The Yorkville Energy Services Terminal is a wholly owned subsidiary of Esmark Realty LLC.
SOURCE: Esmark Inc.
Pictured: Esmark acquired the Yorkville steel finishing mill from bankrupt RG Steel.
Published by The Business Journal, Youngstown, Ohio.
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