ArcelorMittal US mill sale deadline extended

New York, July 21: ArcelorMittal, the world's largest steel company, said today that it had filed with regulators to allow it more time to finish negotiations on the required sale of its Sparrows Point steel mill in Maryland.

The DOJ informed ArcelorMittal that it did not oppose the motion, ArcelorMittal said in a written statement.

The company, which had been ordered to sell the mill by the US Department of Justice after Mittal bought Arcelor, said it had asked today that the deadline be moved until Aug. 6.

''We continue to work closely with the DOJ throughout all phases of the divestment process,'' it said.

The company declined to comment further on the sales process, which has been underway since the US antitrust agency ordered the mill sold in February. ArcelorMittal has requested several extensions during that time to further pursue negotiations.

Among the companies who have expressed interest in the assets in the past is Esmark, the privately-held company that won control of Wheeling-Pittsburgh Corp. and is due to take over the company this summer.

Reuters>