Wheeling-Pittsburgh Steel

Wheeling-Pittsburgh Steel Corporation
Industry Metals
Successor RG Steel, LLC (bankrupt entity)
Founded 1920
Headquarters Pittsburgh, Pennsylvania (1920-Aug. 22, 1986)[1]
Wheeling, West Virginia (Aug. 1986-2013)
Products raw steel
galvanized steel
substrate steel
coils
bridge building
sheet metal
tin
coke
Revenue liquidated
Website www.rg-steel.com

Wheeling-Pittsburgh Steel was a steel manufacturer based in Wheeling, West Virginia.

History

Wheeling Steel Corporation was organized on June 21, 1920 as a successor to three prior steel companies.[2] The company consisted of factories for 30 miles, from Benwood, West Virginia north to Steubenville, Ohio.

Wheeling Steel was acquired by the Pittsburgh Steel to form the Wheeling-Pittsburgh Steel Corporation in December 1968. The merger added:

Wheeling-Pittsburgh’s was slow to modernize its high-cost facilities and overcome downturns in the steelmaking industry in the 1980’s. A late attempt to use a pig-iron blast furnace and electric arc furnace in tandem failed when the electric arc furnace did not achieve its designed capacity. Esmark engaged in a proxy takeover for Wheeling-Pittsburgh in 2005 and took over the company in November 2007.[3] Severstal acquired Esmark’s Wheeling-Pittsburgh holdings in August 2008 for $1.25 billion,[3] which was then acquired by RG Steel in 2011.[4] Mass layoffs by RG Steel began in June 2012 after the company declared bankruptcy.[5] The company sent notices to all 4000 RG Steel employees that they may be laid off, with layoffs beginning on June 4, 2012.[6]

Bankruptcy liquidations

After Chapter 11 bankruptcy and RG Steel liquidation, the Yorkville, Ohio plant was sold back to Esmark, the Martins Ferry, Ohio plant was sold to a local businessman, and the Steubenville, Ohio plant was sold to the metal recycler Herman Strauss.[7]

Further Reading

References

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