Kinder Morgan Incorporated

Sparrows Point auction to be delayed by a week

The auction for RG Steel's Sparrows Point steel mill, expected today, will be delayed by a week.

Attorneys for the company, which is in bankruptcy protection, confirmed Tuesday morning that the sale was not underway as originally planned. An attorney for Kinder Morgan, one of the major creditors, said the auction had been rescheduled to next week.

Jerry Conners, president of the United Steelworkers Local 1223 in Yorkville, Ohio, said he was told RG Steel's Wheeling, W.Va., assets were being auctioned off Tuesday. His understanding was that auctions for the Sparrows Point and Warren, Ohio, facilities were both delayed to allow a primary bidder — known as a "stalking...