7News has learned that an India-based steel company has agreed to buy Acero Junction Inc. in Mingo Junction.
According to Business Line, India-based JSW Steel has acquired the steel mill for $81 million. This acquisition comes after JSW announced to invest big money, $500 million, into another plant in Baytown Texas. That announcement was made on Monday.
JSW issued a statement today that said it has entered into a stock purchase agreement with JSM International, Acero Junction Holdin Inc., and Acero Junction Inc. for an acquisition of 100 percent share of Acera Junction Holding Inc., a Delaware Corporation for a cash consideration of up to $80.85 million, according to Business Line.