Owner of former South Carolina steel plant finds buyer

Updated:

GEORGETOWN, S.C. (AP) - The owner of a former steel plant in South Carolina says it's found a buyer.

The Post and Courier of Charleston reported (http://bit.ly/2ox97bH) that ArcelorMittal said Friday it's found a buyer for the plant it operated in Georgetown.

The company made wire rods at the plant that employed about 200 people until August 2015.

ArcelorMittal says it has reached an agreement in principle with London-based Liberty House Group. The proposed deal comes after several months of discussion and is subject to the two sides agreeing on final terms.

Liberty has said it plans to make major investments in the U.S. steel industry.

Terms of the proposed deal were not disclosed.

___

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