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Steel News September 03, 2018 01:30:10 PM

Big River Steel Ponders Possible Sale of Arkansas Steel Mill Facilities

Paul Ploumis
ScrapMonster Author
According to BRS, the company is currently reviewing its strategic options, following expression of interests of potential takeover by several interested parties.

Big River Steel Ponders Possible Sale of Arkansas Steel Mill Facilities

SEATTLE (Scrap Monster): The Osceola, Arkansas-based EAF steel maker, Big River Steel (BRS) plans to finalize on a potential sale agreement during this month. Media reports indicate that one or more stakeholders in the company have already expressed interest to sell their stake. Meantime, several steel majors including Nucor Corporation are reportedly in the race to purchase BRS steelmaking assets.

According to BRS, the company is currently reviewing its strategic options, following expression of interests of potential takeover by several interested parties. One likely purchaser is the Charlotte, North Carlina-based Nucor Corp., although both the companies have declined to comment on the potential deal. John Ferriola, CEO, Nucor Corp. had refused to say whether the company is looking to purchase BRS.

Another candidate in the race is the U.K-based Liberty House Group under the GFG Alliance, which has recently been on a massive expansion drive, acquiring several U.S. steel mills and scrap yards.

Meantime, the Arkansas teacher pension fund, which holds minority stake in BRS, has stated that it has not attempted to sell its stake in the company, saying that it considers the investment in BRS as strong and safe.

It must be noted that Big River Steel, in early-July this year, had announced major investment to the tune of nearly $1.2 billion in order to achieve significant expansion of production capacities at its Osceola, Arkansas EAF steel production facility. The proposed investment is expected to double the facility’s hot rolled steel production capacity.

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