Aug 13, 2007

The Mittal Curse Removed

It was good news here in the vending machine area of Rearden Industries when we learned that the Mittal steel mill at Sparrows Point, Maryland is being sold to Esmark, of Chicago. The 'Point', as they call it, had it's glory days as the largest facility in the Bethlehem Steel group of companies but fell victim to a combination of it's own weight and rapidly changing market conditions.

Esmark is a Chicago-based company owned by the Bouchard brothers who are dyed in the wool steel guys grew up in a powerful family complete with Inland Steel pedigree.



Don't think for a minute that these guys are tuxedo-wearing, Ferrari driving trust fund babies with nothing else to do. No, they have been acquiring steel mills and steel service centers for about three years and, these guys have a plan for stabilizing our domestic steel industry. Plans are nice, but watching them make it happen is a true joy.

These guys are back on the linoleum after having seen firsthand the failure of web-based relations management for heavy industrial products. Imagine this, steel savvy and knowledgeable steel sales people working with customers.

Three cheers for Esmark and three cheers for Baltimore. And, thanks to Mark Reutter for the links.

2 comments:

le ridicule ne tue pas said...

Because of Mr Mittal's incredible financial success, you should not forget what Mr Mittal really is. A man of the steel industry. His father was a steelman, and so is his son.

There is no curse, just a very successful industrialist.

rearden215 said...

And, as such, I wish the Mittal family a long, healthy and prosperous future.