Hilco Industrial has agreed to buy RG Steel’s Sparrow Point plant at auction. Ballard Spahr’s Raymond G. Truitt said that Hilco probably assumed a quick disposition of equipment, that it will probably be a slow process. There are many potential obstacles to the sale, such as a lawsuit from area residents for contamination.

Mr. Truitt also noted that Hilco is more interested in the plant’s equipment than its real estate. The land is troubled with environmental issues, which would make it difficult to repurpose as another manufacturing site. Redeveloping for other uses could take decades.

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