International Steel Group (ISG) was an American steel company, headquartered in

Cleveland Cleveland ( ), officially the City of Cleveland, is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located in the northeastern part of the state, it is situated along the southern shore of Lake Erie, across the U.S. ...

Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...

,International Steel Group website
/ref> which was established by the New York investment firm

WL Ross & Co WL Ross & Co is a private equity company founded and based in New York by Wilbur Ross in April 2000. The company focuses on investments in financially distressed companies with undervalued stocks, in the $100 to $200 million range, usually in the ...

LLC to acquire the assets of bankrupt steel companies and combine them together in a new company. In 2004 it was ranked #426 on the Fortune 500 list.

History

International 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. The next year, it acquired what was left of the remaining assets of the dissolved

Bethlehem Steel The Bethlehem Steel Corporation was an American steelmaking company headquartered in Bethlehem, Pennsylvania. For most of the 20th century, it was one of the world's largest steel producing and shipbuilding companies. At the height of its succe ...

, formerly America's second-largest steel producer, without merging. In 2005, ISG was acquired by

Mittal Steel Mittal Steel Company N.V. was an Indian company and one of the world's largest steel producers by volume and turnover. After a merger in 2005, it is now part of ArcelorMittal. History Mittal Steel Company was formed as Ispat International in 19 ...

, which merged with

Arcelor Arcelor S.A. was the world's largest steel producer in terms of turnover and the second largest in terms of steel output, with a turnover of €30.2 billion and shipments of 45 million metric tons of steel in 2004. The company was created in 2002 ...

to become

ArcelorMittal ArcelorMittal S.A. is a Luxembourgian multinational steel manufacturing corporation headquartered in Luxembourg City. It was formed in 2006 from the takeover and merger of Arcelor by Indian-owned Mittal Steel. ArcelorMittal is the second la ...

in 2006. The

Luxembourg Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...

based

is an integrated steel and mining

multinational corporation A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, i ...

, and is the world's largest steel producer .ArcelorMittal S.A.
/ref>

Timeline

* 2002: ISG purchased the assets of Acme Steel, and the integrated steel assets of LTV in February. * 2003: ISG acquired the

Bethlehem Steel Corporation The Bethlehem Steel Corporation was an American steelmaking company headquartered in Bethlehem, Pennsylvania. For most of the 20th century, it was one of the world's largest steel producing and shipbuilding companies. At the height of its succ ...

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 Trinidad and Tobago (, ), officially the Republic of Trinidad and Tobago, is the southernmost island country in the Caribbean. Consisting of the main islands Trinidad and Tobago, and numerous much smaller islands, it is situated south of ...

. * 2005: Completed merger with

Mittal Steel Company Mittal Steel Company N.V. was an Indian company and one of the world's largest steel producers by volume and turnover. After a merger in 2005, it is now part of ArcelorMittal. History Mittal Steel Company was formed as Ispat International in 19 ...

in April. * 2006: Mittal completed

takeover In business, a takeover is the purchase of one company (the ''target'') by another (the ''acquirer'' or ''bidder''). In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to ...

, to form

References

External links

Official archived International Steel Group website
— ''Intlsteel.com, via the

Internet Archive The Internet Archive is an American digital library with the stated mission of "universal access to all knowledge". It provides free public access to collections of digitized materials, including websites, software applications/games, music, ...

Wayback Machine The Wayback Machine is a digital archive of the World Wide Web founded by the Internet Archive, a nonprofit based in San Francisco, California. Created in 1996 and launched to the public in 2001, it allows the user to go "back in time" and see ...

''.
ArcelorMittal S.A. corporate website
Steel companies of the United States Manufacturing companies based in Cleveland American companies established in 2002 Manufacturing companies established in 2002 Manufacturing companies disestablished in 2005 2002 establishments in Ohio 2005 disestablishments in Ohio Bethlehem Steel ArcelorMittal 2005 mergers and acquisitions Defunct manufacturing companies based in Ohio {{US-manufacturing-company-stub

History

Timeline

See also

References

External links