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ArcelorMittal Sues Esmark Over Aborted Mill Sale

05/09/2008 16:17:44


BALTIMORE, Maryland (AP) -- ArcelorMittal has filed a lawsuit against Esmark related to last year's aborted sale of a steel mill near Baltimore.    Luxembourg-based ArcelorMittal claims Esmark, which has operations in eastern Ohio, breached its contract to purchase the plant for 1.35 billion dollars.    

The proposed sale fell through in December because of financing problems.    

The lawsuit filed in New York's Supreme Court seeks 540 million dollars in damages.    

Esmark says the lawsuit is frivolous. The company argues that ArcelorMittal failed to meet the conditions required to close the transaction and didn't resolve disputes with the United Steelworkers over the sale.        
(Copyright 2008 by The Associated Press. All Rights Reserved.)

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