AK Steel Corporation, a producer of flat-rolled carbon, stainless, and electrical steel products, announced that it has signed an agreement for the sale of a 600-acre industrial park in Texas to Greensport Management LLC of Houston, TX, U.S.
Terms of the sale were not disclosed, and the sale is subject to completion of due diligence and customary closing conditions.
AK Steel said it expects to complete the sale by March 31, 2004. In October 2003, the steel company announced its intention to sell the industrial park and to use the proceeds primarily to reduce its debt.
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