WEIRTON, WV – The Frontier Group of Companies, a recognized leader in the redevelopment of large-scale industrial and commercial property, announced today that it has completed its acquisition of approximately 1,100 acres of land adjacent to the ArcelorMittal steel plant in the city of Weirton, West Virginia. The property, which Frontier purchased from ArcelorMittal, includes 1,100 acres, the BOP Shop and related structures, miscellaneous other plant structures and the Blast Furnace and Ore Yard area. The purchase also included rail sidings, barge loading/unloading areas and Brown’s Island. Terms were not disclosed.
“We believe the Weirton facility, like other industrial sites we have redeveloped, has tremendous attributes and potential,” said David P. Franjoine, president of the Frontier Group of Companies. “Throughout our due diligence, and as we worked with ArcelorMittal on the details of this transaction, we have been energized by the how well the site fits our expertise.”
The acquisition completes a process which began last year, when the Frontier Group of Companies and ArcelorMittal entered into a contract for the property.
“ArcelorMittal is pleased to have closed on the sale of approximately 1,100 acres of property in Weirton, W.Va. to The Frontier Group of Companies,” said John Brett, chief executive officer, ArcelorMittal. “We achieved our goal of finding a purchaser with extensive experience in redeveloping a former heavy industrial site into a more productive location that benefits the city and region. We appreciate the patience of our employees and the Weirton community while we finalized this important transaction.”
Headquartered in Buffalo, NY, the Frontier Group of Companies and its subsidiaries has completed an extensive portfolio of industrial, development, energy, mixed-use, commercial and residential projects throughout the United States, North America and South America. Among its redevelopment projects, the company led the redevelopment of the nearby Mingo Junction Steel Works site in Ohio, which was recently sold to a group that plans to restart steelmaking operations at the site, while Frontier continues to work on redevelopment plans for the southern portion of the property.
“Our history at Mingo Junction, and how we were successfully able to repurpose an idle industrial site, is an example of how we approach our work,” Franjoine said. “Now that we have completed our acquisition in Weirton, we will immediately get to work on identifying what future development and re-use possibilities exist.”–