International Steel Group — BrandWiki

International Steel Group

Overview

International Steel Group Inc.

industry	Steel
fate	Acquired by Mittal Steel Company
foundation	April 2002
founder	Wilbur Ross
defunct	April 15, 2005
location city	Cleveland, Ohio
location country	U.S.
revenue	US$9.015 billion (2004)
net income	US$1.027 billion (2004)
assets	US$4.488 billion (2004)
equity	US$2.004 billion (2004)
num employees	15,500 (2004)
footnotes	‡R1R‡

International Steel Group Inc. (ISG), headquartered in Cleveland, Ohio, was one of the largest integrated steel producers in North America. It had annual raw steel production capability of 23 million net tons.[1] In April 2005, the company was acquired by Mittal Steel Company.

History

The company was formed in April 2002 by affiliates of Wilbur Ross.[1]

In April 2002, the company acquired the assets of bankrupt Ling-Temco-Vought (LTV), including facilities in Cleveland, Indiana Harbor and Hennepin, for $83.4 million in cash. In May 2002, ISG purchased inventories from LTV for $52.4 million in cash.[1][2]