The Acero Junction plant in Mingo Junction has been sold for nearly $81 million.
India-based JSW Steel announced yesterday it had finalized the stock purchase agreement with Acero.
Back in October, the steel coil production company was in debt to local contractors to the tune of nearly $8 million, but this sale will clear that situation.
Acero attorneys said new jobs would pay a salary of $81,000.
This acquisition comes after JSW announced an investment of $500 million into another plant in Baytown Texas. That announcement was made on Monday.