Both WDEL-AM and the News-Journal are reporting that the Evraz Claymont Steel site has been sold to a St. Louis company that plans to raze structures and clean up the site for future development.
The buyer was identified as Commercial Development Co., St. Louis, The company, according to its website, redevelops industrial properties in situations where other entities do not find value. The deal was reportedly valued in the millions of dollars and is near finalization.
The process could take a couple of years, the company told the two media outlets. A press conference was scheduled for the announcement. However, attendance appeared to be limited to a few media outlets. A representative for the company was traveling on Tuesday and could not be reached for comment.
The site has been mentioned more frequently in recent weeks as hopes faded that a buyer would come in and reopen the mill, which was purchased by London-based steelmaker Evraz for more than half a billion dollars. It was part of a buying spree by the steelmaker, which has the bulk of its operations in Russian.
The site is also adjacent to Tri-State Mall, which is losing the K Mart store on its property.
It’s not known what will eventually be built at the site, but Jostess said the property will likely be used for industry or distribution. Steel operations are not planned for the site.
Prior to Evraz, the mill was operated by an American company after being purchased from a Chinese state steel company and operating under the Citisteel name. The company operated for many years under the Phoenix Steel name. The minimill produced steel plate used in construction and other areas.
The announcement comes as New Castle County and the City of Wilmington announced an economic strategy aimed at bringing more businesses to the area.
