John Correnti

In late June , Birmingham Steel CEO John Correnti said that the steelmaker was open to the idea of a buyout or merger.

Speaking at the Steel Strategies XVI conference in New York , Correnti stressed that the firm would do whatever was best for its shareholders , and was not in any formal merger talks.

Birmingham Steel is still actively seeking buyers for its plants in Memphis and Cleveland , Ohio , that make up its Special Bar Quality Division.

The Memphis plant was shuttered in late 1999 after the company reported it had lost about $100 million since its opening in 1997.It sat idle for the last year as the company has sought a buyer for it.

The plant was responsible for melting steel and rolling it into billets which were then shipped to the Cleveland factory where they were rolled into final products used by the automobile industry.

We are optimistic the transaction can be completed prior to the revised closing date," said John Correnti, Birmingham chairman and CEO.

Questions regarding I&SM should be directed to joannc@iss.org.

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According to Birmingham's Chairman and Chief Executive Officer, John Correnti, MetalSite was the obvious choice because, "I can believe you guys, " he remarked.Other reasons the long products and rebar producer selected MetalSite was due to the company's experience, unparalleled product depth and the ability to serve the long products and rebar markets.

Birmingham Steel, headquartered in Alabama, operates minimills and other steelmaking facilities throughout the United States.The company produces steel reinforcing bar, beams, rounds, squares, flats, angles, channels, and specializes in the manufacture of high quality steel bar, rod and wire.

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Former Nucor and Birmingham Steel executive John Correnti was considered for the job, as was retired LTV executive Richard A. Veitch.

According to Birmingham's Chairman and Chief Executive Officer, John Correnti, MetalSite was the obvious choice because, I can believe you guys, he remarked.Other reasons the long products and rebar producer selected MetalSite was due to the company's experience, unparalleled product depth and the ability to serve the long products and rebar markets.

Birmingham Steel, headquartered in Alabama, operates minimills and other steelmaking facilities throughout the United States.The company produces steel reinforcing bar, beams, rounds, squares, flats, angles, channels, and specializes in the manufacture of high quality steel bar, rod and wire.