Steel Mills
Esmark Appoints New VP of Finance & Treasurer
Written by Sandy Williams
September 17, 2014
Esmark Inc. has appointed steel industry veteran Michael P. DiClemente Executive Vice President of Finance and Treasurer for Esmark, Inc., and its new formed company, Esmark Europe.
DiClemente will direct all financing and treasury management functions for both parent company Esmark, Inc. and its newly formed company, Esmark Europe.
“Mike’s significant experience in the public and private debt capital markets and commercial lending sector will be invaluable to Esmark and Esmark Europe moving forward,” said James P. Bouchard, Chairman and CEO of Esmark, Inc. and Esmark Europe.
Bouchard added that DiClemente will join seven other former U.S. Steel-Kosice executives at the newly formed Esmark Europe company and management team. “Our combined experiences and collaboration with the successful turnaround and revitalization of the Kosice steel mill will have a significant impact on our European operations,” he said.
DiClemente’s career background includes senior-level corporate finance, treasury management and mergers and acquisitions positions for companies such as United States Steel Corporation (USS), and Fortune 500 Company and USS spinoff Aristech Chemical Corporation, which was formerly listed on the New York Stock Exchange. Most recently, DiClemente was a senior financial advisor in corporate banking with an emphasis on commercial lending.
Note: Esmark is currently in negotiations to purchase Serbian steel mill Zelezara Smederevo which will expand Esmark’s European presence.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
White House may delay decision on USS-Nippon deal until after election: report
The White House decision on blocking Nippon Steel’s play for Pittsburgh-based U.S. Steel might be pushed back until after the upcoming presidential election, according to a report in the Washington Post.
Hybar lands ‘strategic’ investment from Quanta Services
Hybar said that contracting services firm Quanta Services has made a “strategic” investment in the company as it build its sustainable rebar mill in northeast Arkansas.
Cliffs to place C-6 furnace at Cleveland Works on hot idle: sources
Cleveland-Cliffs plans to place the C-6 blast furnace at its Cleveland Works in Ohio on hot idle in October, according to sources familiar with the matter.
Domestic steelmakers push back on Ternium’s 232 exclusion requests
Ternium USA Inc. has requested a host of Section 232 tariff exclusions since the US reimposed the duties on Mexican steel earlier this summer. Domestic steelmakers, however, are pushing back.
USS introduces ‘ZMAG’ coated steel to withstand tough weather
U.S. Steel has rolled out “ZMAG,” a flat-rolled coated steel product intended to endure harsh weather conditions.