Botsford, Neese sue WorldClass Processing as minimill finds new life

摘要

In Oct. 1995, Matthew Botsford's plans to launch a minimill in western Pennsylvania appeared to be moving forward. After sixteen months of searching for equity investors, Botsford's company, World-Class Processing, was ready to step aside and allow a new majority shareholder to take the lead. Under a deal with the Mesco Group of India, World-Class would take a small minority interest in the newly rechristened Trans Global Steel; Mesco would take a 51 -percent interest in the company and repay WorldClass 593,000 dollars for its previous investment in the project. The sheet processor, based in Ambridge, Pa., would have a long-term processing agreement with the new steel mill, which would now be across the Ohio River in Aliquippa, Pa., instead of Ambridge.