Steel Mills
Olympic Acquires Berlin Metals
Written by Tim Triplett
April 3, 2018
Olympic Steel, Inc., has acquired Berlin Metals LLC, the Hammond, Ind., service center. Terms of the all-cash deal were not disclosed.
With approximately $50 million in annual sales, Berlin Metals processes and distributes prime tin mill products and stainless-steel strip in slit coil form. The company is also a supplier of galvanized, light-gauge cold rolled sheet and strip, as well as other coated steels in coil form, to customers in the building products, automotive, and specialized industrial markets.
“This acquisition adds new products and markets, both of which are central to our growth strategy,” said Olympic Steel’s Chairman and Chief Executive Officer Michael Siegal. “Berlin Metals also has a growing stainless-steel business, compounding our organic growth in these products. With minimal customer overlap, this is a perfect complement to existing operations.”
The purchase includes four coil slitters operating from a 120,000-square-foot facility in Hammond. Berlin Metals will continue to operate under its well-known brand. The management team, including President Roy Berlin, will remain at the company. The business will be included in Olympic Steel’s Specialty Metals Flat Products reporting segment, which is led by Specialty Metals President Andy Markowitz.
Tim Triplett
Read more from Tim TriplettLatest in Steel Mills
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.
Granite City Works must remain open and other terms of the Nippon-USS deal
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.
USS shuffles some leadership roles after close of Nippon deal
USS shuffles leadership deck after deal closes with Nippon.
ArcelorMittal fires up steelmaking at Calvert mill
With the marking of the EAF’s first heat earlier this month, the mill has moved from a rerolling and finishing mill to a full steelmaking facility.