Esmark plans to enter into definitive documentation upon expiration or waiver of the approximate 52-day ''right to bid'' period set forth in the collective bargaining agreement with the United Steel Workers. Esmark is a steel production and distribution company with a capacity of 2.4 MTPA and steel distribution centres across USA.
Mr Shashi Ruia, Chairman, Essar Global said, ''This is another step in realizing our global steel vision of having world class low cost assets, with a global footprint. Having acquired Algoma and Minnesota Steel last year, this acquisition provides us with an excellent platform for the Canadian and North American markets. With the above acquisitions of Esmark and projects under implementation in Trinidad and Tobago, Essar Steel Holdings will have 10 million tonnes of flat steel production in America.''