South Carolina steel mill sale stalls over incentives

CHARLESTON, S.C. (AP) – A company trying to buy an idle steel mill in South Carolina says the deal is on hold while it seeks tax breaks and incentives from local and state governments.

United Kingdom-based Liberty House Group agreed in April on a tentative deal to buy the steel mill in Georgetown from ArcelorMittal.

But the deal has not been finalized. ArcelorMittal spokeswoman Mary Beth Holdford told The Post and Courier of Charleston that Liberty House is still asking for possible government help. She says she can’t release any other information because of confidentiality agreements.

A spokesman for the state Commerce Department and the mayor of Georgetown couldn’t be reached for comment.

The steel mill shut down in August 2015, leaving 220 employees without a job.

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Information from: The Post and Courier, http://www.postandcourier.com

This story was originally published July 8, 2017 at 6:27 PM with the headline "South Carolina steel mill sale stalls over incentives."