The former RG Steel Processing Plant has a new owner.
ACERO Junction has purchased the former steel processing plant from the Frontier Group of Companies, although the terms of the sale were not disclosed.
Four years ago, FGC purchased the facility in Mingo Junction out of bankruptcy.
“This is an exciting time as jobs and commerce comes back to the part of Ohio hit hard by the slowdown in domestic steel production. ACERO Junction is making a significant investment to bring the Mingo Junction steel plant back online,” said Frontier Group of Companies Chief Executive Officer, David Franjone.
According to a press release, normal operation of the plant could begin by the end of 2016.
“The sale and restart of the Mingo Junction steel operations is a perfect example of the mission of FGC,” said Craig A. Slater, Vice President and General Counsel for FGC. “Our mission is Recovery, Redevelopment and Repurpose. We saw the potential in the Mingo site beyond just asset recovery, demolition / scrapping or leveling the site for redevelopment. A sale was always at the center of our strategy.”
“We believe the restart of the steel plant will be a catalyst for repurposing and redevelopment of the balance of the vacant land at the Mingo site,” said Christopher Wietig, special project director for FGC.
“This is an important step to revitalize the Mingo Junction facility and return the site’s steel-making assets to Jefferson County. Successfully redeveloping the site will mean bringing jobs to the facility. That’s JobsOhio’s highest priority. More work needs to be done, including the approval of incentives. That’s why JobsOhio and our partners at APEG are closely with the new owners of the facility as they move forward with their plans,” said Matt Englehart.
Stay with 7News for updates on this developing story.