Steel Mills
Ryerson Acquires SMP to Beef Up Stainless, Specialty Offerings
Written by Michael Cowden
September 8, 2021
Ryerson has acquired Specialty Metals Processing (SMP) as it looks to expand its value-added offerings and its presence in the stainless arena.
Stow, Ohio-based SMP toll processes stainless steel, aluminum, titanium and nickel alloy products for specialty markets such as aerospace, Ryerson said.
It also offers expertise in buffing, grinding and polishing, the Chicago-based service center said.
Terms of the deal were not disclosed.
“We are pleased to welcome SMP to the Ryerson Family of Companies as a recognized leader in toll processing,” Ryerson President and CEO Eddie Lehner said in a statement.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
Nippon could up investment in USS facilities to $7B: Report
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.
Hybar expansion still on the table as Arkansas mill startup nears
As Hybar nears the completion of its $700-million rebar mill in Arkansas, the company said it is still “actively considering” building other steel facilities in the southern US.
Global steel production edges lower in February
February’s global raw steel output is tied with last December's for the fourth-lowest monthly production rate recorded over the past two years.
Fate of U.S. Steel hangs in the balance
The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.
Cliffs to idle Dearborn blast furnace, restart Cleveland furnace by July
Cleveland-Cliffs has decided to idle the steelmaking operations at its Dearborn Works in Michigan due to weak automotive demand.