Bidder Loses Interest in Rouge Steel, Ford Says : Steel Firm Bid Fades
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From Reuters
DEARBORN, Mich. — Ford Motor Co. said today a bidder for its Rouge Steel Co. subsidiary, believed to be Worthington Industries Inc., is no longer interested in acquiring the unit, but the auto maker said it still is seeking a partner to run the steel firm.
The head of Rouge Steel, David Blackwell, said in a letter to the division’s 3,000 employees that the company must cut costs in order to be competitive.
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