London-based Liberty Steel Group said that its $28 million cash offer has made it the preferred buyer for a Louisiana steel mill that shut down abruptly in the fall, putting 376 people out of work, the Associated Press reported. Bayou Steel Group announced the layoffs and shutdown Sept. 30. The following day, it said that it was filing for chapter 11 protection. Liberty said that its deal is expected to close Jan. 31. It plans to upgrade and modernize the mill in LaPlace and hopes to resume recycling in the second half of 2020 and steel-making by 2021. Liberty already owns steel operations in Illinois, Ohio, New Mexico and South Carolina. “The group is pursuing a GREENSTEEL strategy of focusing on renewable sources of energy and recycled materials, with a view to moving toward carbon-neutral steel production by 2030,” it said.
