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International Steel Group (ISG) was an American steel company, headquartered in Cleveland, Ohio,[1] which was established by the New York investment firm WL Ross & Co LLC to acquire the assets of bankrupt steel companies and combine them together in a new company.
 | |
| Industry | Steel |
|---|---|
| Predecessor | LTV Steel, Bethlehem Steel |
| Founded | 2002 |
| Defunct | 2005 |
| Fate | Acquired |
| Successor | Mittal Steel |
| Headquarters | Cleveland, Ohio , U.S. |
| Website | (archived) |
In 2004, it was ranked #426 on the Fortune 500 list.[1]
History
editInternational Steel Group was created in 2002, after the turn-around investment fund WL Ross & Co. LLC, purchased the LTV Steel (Ling-Temco-Vought) and Acme Steel corporations.[1]
The next year, it acquired what was left of the remaining assets of the dissolved Bethlehem Steel, formerly America's second-largest steel producer, without merging.
In 2005, ISG was acquired by Mittal Steel, which merged with Arcelor to become ArcelorMittal in 2006.
The Luxembourg based ArcelorMittal is an integrated steel and mining multinational corporation, and is the world's largest steel producer as of 2014[update].[2][3]
Timeline
edit- 2002: ISG purchased the assets of Acme Steel, and the integrated steel assets of LTV in February.
- 2003: ISG acquired the Bethlehem Steel Corporation assets, and the Gary plate mill of U.S. Steel.
- 2004: ISG purchased the assets of Weirton Steel, Georgetown Steel, and an HBI facility in Trinidad and Tobago.
- 2005: Completed merger with Mittal Steel Company in April.
- 2006: Mittal completed takeover of Arcelor, to form ArcelorMittal.
See also
editReferences
edit- ^ a b c International Steel Group website
- ^ ArcelorMittal S.A.
- ^ "Top steel-producing companies 2012". World Steel Association. Archived from the original on 2013-11-05. Retrieved 2013-11-10.
External links
edit- Official archived International Steel Group website — Intlsteel.com, via the Internet Archive Wayback Machine.
- ArcelorMittal S.A. corporate website
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