Ownership of the Sparrows Point steel mill in Baltimore County was officially transferred on Thursday from Severstal North America, a subsidiary of a Russian steel and mining company, to the New York-based Renco Group Inc., company officials said.
The Renco Group bought the steel mill, as well as mills in West Virginia and Ohio, in a $1.2 billion deal that was struck earlier this month. Renco has said it plans to bring an unspecified number of workers back to Sparrows Point, after most of the mill's operations were idled in July and nearly 1,000 workers were laid off. The company has said it would resume making steel next month. Renco is the fifth owner of Sparrows Point in the last decade.