Arcelor Mittal expresses concern over Chicago railway purchase
February 09, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
Source: Chesterton Tribune
EAST CHICAGO, Ind. (AP) — The world’s largest steelmaker, ArcelorMittal, is worried about how it will ship steel from its northwest Indiana mills after a local railroad is bought out.
The EJ&E [Railway] is a 198-mile rail line that circles Chicago and serves chemical, steel and other industrial companies. Canadian National announced in September it had an agreement with the railway’s owner — and ArcelorMittal competitor U.S. Steel Corp. — to buy most of the EJ&E for $300 million.
The EJ&E has said it is not a party to the proposed transaction and does not have to answer the rival steelmaker’s questions.
