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Report: Local Severstal plant up for sale

Reported by: WTVA News
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Updated: 5/11/2014 3:07 pm
(WTVA) — The Wall Street Journal reports Severstal plans to sell its steel mill in Lowndes County.

People familiar with the matter have told the newspaper the sale of that plant as well as one in Michigan could bring the Russian steelmaker at least $1.5 billion.

According to the report, U.S. Steel and Brazil-based CSN have expressed an interest in the plants.

The local plant started production in 2007.  It makes steel out of scrap metal.
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