Eddie Lehner, president and CEO of Ryerson Holding Corp., has been named to the service center’s board of directors, expanding the board from seven to eight members. “Eddie has been a tremendous leader and his accomplishments as president and CEO have been transformative for Ryerson,” said Jacob Kotzubei, a member of Ryerson’s board. “He brings […]
Strong downstream demand for steel is expected through the first half of 2022, but unfilled orders and backlogs resulting from supply-chain troubles and labor shortages may wreak havoc in the second half, cautioned a panel of OEM and service center executives during the Tampa Steel Conferences last week. “We’re certainly seeing strong demand for the […]
Reliance Steel & Aluminum Co. “finished the year strong with record financial performance across nearly every metric,” CEO Jim Hoffman said during the service center’s earnings call on Thursday. Reliance reported record annual gross profits of $4.49 billion on record annual sales of $14.09 billion for full-year 2021. The fourth quarter was also the best […]
With three quarters of its fiscal year in the books, Friedman Industries Inc. says it is on track to achieve a record year – but not without a few bumps in the road. The Texas-based steel processor and manufacturer reported a net loss of $2.96 million on sales of $51.66 million in its third quarter […]
After the close of the market today, Canada’s Russel Metals reported net earnings of $432 million (U.S. $340 million) on annual revenues of $4.2 billion (U.S. $3.3 billion) for fiscal year 2021. That’s a big improvement from earnings of just $25 million (U.S. $20 million) on revenues of $2.7 billion (U.S. $2.1 billion) in 2020 […]
Mill Steel Co. now ranks among the most successful companies in the United States whose top executives are women. The Grand Rapids, Mich.based service center has been certified as an Exceptional Women’s Business Enterprise by the Women’s Business Enterprise National Council. “We are always looking for ways to enhance our customer service and meet the needs […]
Service center industry stalwart Al Glick, who founded Alro Steel with his brother Robert in 1948, passed away today at age 95. In addition to his leadership of Jackson, Mich.-based Alro, which is now among the top-ranked service centers in North America, Glick was well known as a big supporter and fan of the University […]
Seaport Steel, a Varsteel Company headquartered in Seattle, Wash., has acquired Oregon Metal Services in Portland. The OMS acquisition continues Varsteel’s U.S. expansion through its Seaport Steel subsidiary. Seaport Steel now offers a comprehensive range of flat-rolled and discrete plate, structural, tube and bar products along with processing services and support. It is fulfilling a […]
Continuing its aggressive growth through acquisition, Reliance Steel & Aluminum Co. has purchased Rotax Metals, Inc., a metals service center specializing in copper, bronze and brass alloys. This is the third deal announced by Reliance just this month, extending its reach in various regions and product categories. Founded in 1947 and located in Brooklyn, New […]
Reliance Steel & Aluminum Co. announced two more acquisitions this month, bringing the total to 70 since the service center giant’s IPO in 1994. The latest additions to Reliance’s portfolio are Admiral Metals Servicecenter Co. Inc. and Nu-Tech Precision Metals Inc. Admiral Metals, Woburn, Mass., is a distributor of nonferrous metal products serving the semiconductor, […]
Alro Steel has acquired Ace Steel, a Roanoke, Va.-based service center and distributor of steel and plastic products. The deal will grow Alro’s customer base while providing improved service for cut-to-size metals and plastics, the company said. Established in 1992 as a full-service metal distributor, Ace Steel serves the Roanoke Valley in Virginia. The acquisition strengthens […]
Mill Steel Co., one of the nation’s largest distributors of flat-rolled carbon steel, now offers its full line of flat-rolled carbon steel products for purchase through its e-commerce website. The website features 65,000+ tons of steel available for purchase with full physical and chemical certifications provided for each coil, the company said. The user-friendly e-commerce […]
Canadian metals distributor and industrial products manufacturer Samuel, Son & Co., Ltd., appointed Brian Cooke as incoming president of its Manufacturing Division. In the planned transition, Cooke succeeds Rod Crawford, who previously announced his plan to retire in June 2022. The two will work closely together, the company said, to ensure a successful transition until […]
Canadian distributor Russel Metals finalized its purchase of Boyd Metals, expanding its U.S. footprint. The deal for the Fort Smith, Ark.,-based service center cost $110 million and covers all of Boyd’s assets, the company said. Boyd operates five steel service centers located in Arkansas, Missouri, Oklahoma, and Texas. They deliver a product mix primarily comprised of […]
Friedman Industries reported the most profitable quarter in the company’s history with earnings for its fiscal second quarter ended Sept. 30 of $13.2 million on sales of $92.6 million. That’s a big turnaround from the same quarter last year when the company lost $250,000 on sales of $24.9 million due to the pandemic. Results for […]
Federal Steel Supply, a stocking distributor of carbon steel and chrome-moly tubular products, has acquired Process Piping Materials, a distributor of industrial pipe, fittings, valves and flanges. Terms of the deal were not released. PPM’s founders will remain active in the business. Federal Steel Supply is headquartered in Chesterfield, Mo., with a distribution facility in […]
Alro Steel Corp. will expand its operations into Iowa with the construction of a new regional distribution center, according to local media reports. The Jackson, Mich.-based metals and plastics distributor is planning to build a nearly 200,000-square-foot facility at an estimated cost of $20 million. The plant is expected to bring roughly 40 new jobs to […]
Owen Industries, a service center, processor and fabricator of steel sheet and plate based in Carter Lake, Iowa, has acquired the assets of Omaha Steel, a steel foundry in Wahoo, Neb. The acquisition includes a newly built foundry facility that gives Owen Industries the opportunity to expand its offerings into the design and production of […]
Canada’s Russel Metals reported “an exceptionally strong third quarter built on the back of a really strong Q2.” Company executives on Friday’s earnings call pointed to the various moves the company has made in the past two years to position it to take advantage of the prevailing market conditions. Most recent was this week’s announcement […]
Canadian distributor Russel Metals has expanded its U.S. footprint by agreeing to acquire Arkansas-based service center Boyd Metals. The deal, valued at $110 million, includes all five of Boyd’s facilities. Boyd’s operations in Arkansas, Missouri, Oklahoma, and Texas deliver a product mix primarily comprised of carbon steel products. The company also offers stainless steel, aluminum and other industrial […]
The management team at Ryerson reported solid third-quarter results on Thursday and expressed optimism about underlying demand in the fourth quarter and into next year. “The pricing environment is still healthy and strong underpinned by good demand – demand deferred, not denied – and we see that continuing into 2022,” Ryerson President and CEO Eddie […]
Klöckner & Co. SE posted record results in the third quarter, outperforming a previous record in the second. The company also delivered its highest quarterly operating income since its IPO in 2006. Klöckner credited the unparalleled third-quarter results to “considerably higher” selling prices. The Duisburg, Germany-based service center, which has significant operations in the U.S., […]
This year’s third quarter was the best quarter on record for Reliance Steel & Aluminum Co., the nation’s largest service center organization. Reliance reported gross profit of $1.21 billion on sales of $3.85 billion in Q3. “Our resilient business model, favorable metal pricing trends and excellent execution combined to produce another quarter of record-setting financial […]
ThyssenKrupp Materials Services plans to build a greenfield service center on the campus of Steel Dynamics Inc.’s new steel mill in Sinton, Texas. The new location is part of a nearly $82 million (€70 million) North American expansion plan launched by the service center and distribution wing of the Essen, Germany-based steel company. Approximately $33 […]
In its latest acquisition, Triple-S Steel Supply Co., Houston, has purchased BMG Metals, a steel distributor and metal superstore with five stocking locations throughout Virginia and Maryland. Steve Briggeman, a 21-year veteran of Triple-S, has been promoted to regional vice president. A resident of Knoxville, Tenn., Briggeman will oversee the new BMG business in addition […]
Klöckner & Co. SE has secured a distribution partnership with H2 Green Steel (H2GS), bolstering its efforts to become a pioneer in the sustainable steel business. The collaboration guarantees Klöckner access to substantial volumes of “green steel” from the Swedish steelmaking start-up. H2GS is building a large-scale, hydrogen-based steel plant in northern Sweden with the goal […]
Central Steel & Wire, a subsidiary of Ryerson Holding Corp., has signed a lease for a 900,000-square-foot service center facility in University Park, Ill., that will become CSW’s headquarters and operational hub. Strategically located just south of Chicago, the build-to-suit facility will allow the company to cover a broad geographical area. “This new facility represents an […]
In its fifth acquisition in the past four years, Olympic Steel Inc. has acquired the assets of Shaw Stainless & Alloy, Inc. Terms of the all-cash purchase were not disclosed. The deal includes Shaw’s stainless steel distribution and fabrication businesses as well as its architectural and barrier defense businesses. Shaw will be incorporated into Olympic […]
Samuel, Son & Co., Limited, is constructing a new automotive processing facility in Querétaro, Mexico. This new operation, along with an existing automotive facility in Monterrey, will position Samuel as a leading metals processor to global automotive brands and their supply chain partners operating in Mexico, the company said. Samuel expects to complete construction of […]
Alro Steel Corp. has acquired Metal Stock, a Philadelphia-based service center and distributor of steel and plastic products. This asset purchase will allow Alro to grow its customer base while providing improved service for cut-to-size metals and plastics, the company said. Established in 1994 as a full-service metal distributor, Metal Stocks serves Eastern Pennsylvania, New Jersey, […]