Steel Mills
Majestic Steel Acquires Flat Rolled Steel, Inc.
Written by John Packard
December 19, 2013
Majestic Steel, a flat rolled steel service center located in the Cleveland, Ohio area, announced on Wednesday their acquisition of Flat Rolled Steel, Inc. which has locations/offices in Tulsa, OK; Grand Prairie, Texas (Dallas) and Houston, Texas.
In a letter to their new customers, Majestic Steel provided no details of the purchase. Todd Leebow, President of Majestic Steel did advise their new customers that they are “committed to the steel industry as well as your market and look forward to growing our businesses together.”
According to local press reports out of Ohio, the new plants will operate under the Majestic Steel name.
Mr. Leebow described the reasons behind the purchase as being, “We see this as an opportunity to expand our reach in the Southwest region while continuing to support the existing business. We’re looking forward to welcoming the Flat Rolled Steel associates to the Majestic family.”
Majestic Steel is one of the largest privately held flat rolled steel service centers in North America. According to the September 2013 issue of Metal Center News, Majestic Steel was ranked as the 26th largest distributor with gross revenues of approximately $425 million during 2012. They are well known as a major player in the galvanized steel industry and associated markets. The purchase will increase their footprint in the HVAC markets and other coated steels and cold rolled in the Southwest.
John Packard
Read more from John PackardLatest in Steel Mills
USS confirms split CFIUS decision on Nippon deal; it’s now up to Biden
Nippon Steel's purchase of U.S. Steel could lead to lower steel output domestically, and that presents “a national security risk," the Washington Post reported.
USS/Nippon deal: Who will have the happiest holidays?
Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?
‘Orderly liquidation’ of AHMSA assets begins
A trustee has formally taken over AHMSA and begun the liquidation process of the bankrupt Mexican steelmaker.
Nippon buying stake in Canadian iron ore project
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
USS anticipates Q4 loss on weak demand, BR2 start-up
Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.