SEWICKLEY, PA – OCTOBER 6, 2015 – Esmark, Inc., a diversified holding company and parent company of Esmark Steel Group, today announced that Michael J. Bush, a Principal of Esmark Steel Group, has been named Vice President of Commercial Sales for Esmark, Inc., effective immediately. Bush will report to Esmark, Inc. and Esmark Steel Group […]
The Association of Steel Distributors has announced its new slate of executive committee members for 2015. Brian Robbins, CEO of MidWest Materials, Inc., Perry, Ohio, will continue as president of ASD. Robbins has been an active member of the ASD Board of Directors since 2004. “I am honored to be chosen to lead an organization […]
Dutch company HPK Engineering has been awarded a 3-year management contract for Serbian steel mill Zelezara Smederevo. After nearly a year of negotiations with the Serbian government US-based Esmark was pushed out of the running for purchase and management of the state-owned steel mill. HPK Engineering pledged to invest $20 million in the plant to […]
Esmark Europe has filed a lawsuit in U.S. District Court against Slovakian businessman Peter Kamaras for attempting to undermine Esmark Europe’s bid for Zelezara Smederevo Steel Works. Esmark asserts that Kasmaras aligned himself as an investor and agent with Esmark Europe to gain inside information while simultaneously undermining Esmarks’ bid to privatize Zelezara Smederevo for […]
The acquisition of Serbian steel mill Zelezara Smederevo by Esmark Europe has fallen through. After 10 months of negotiations, Chairman and CEO James Bouchard announced that a definitive agreement for purchase of the mill could not be reached with the Republic of Serbia. A revised proposal from the Serbian government changed the financial terms and […]
Esmark Inc. can finally celebrate the acquisition of Zelezara Smederevo Steel Works. Chairman and CEO James Bouchard announced Monday that Esmark Europe had been officially notified by the Republic of Serbia as the winning bidder for the steel works. The recently formed entity Esmark Europe BV will have a controlling 80.1 percent stake in the […]
Bidding has closed for Serbian steel mill Zelezara Smederevo with a decision due around February 1. Esmark Steel Group is considered the leading contender out of the 10 bids submitted to the Serbian government. The eventual buyer of the mill will be obligated to ramp up production of Zelezara’s second blast furnace to fifty percent capacity […]
Esmark Inc has confirmed its interest in acquiring all the assets of Serbian government-owned steel facility Zelezara Smederevo, a producer of steel, hot-rolled and cold-rolled products, and tin plate-coated products serving customers in Central Europe. Esmark Inc. has formed Esmark Europe to lead mill operations, finance, and commercial sales if the bid is successful. During a […]
Metal Center News published their top 50 service centers based on volume with Reliance Steel & Aluminum taking top honors once again by a wide margin. Reliance 2013 revenues were $9.22 billion up from 2012 revenues of $8.44 billion. The next five service centers are closely bunched with revenues of at least $3.0 billion but […]
Esmark Industrial Group (EIG) announced the acquisition of Pittsburgh Annealing Box, Inc, for an undisclosed multi-million dollar purchase price. EIG is a metals and fabrication and manufacturing subsidiary of Esmark Inc. Pittsburgh Annealing Box, a maintenance, steel fabrication and repair operation, was founded in 1893 and has conducted business under the name KMA Manufacturing since 2003. […]
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 […]
Esmark Steel Group is continuing to pursue the purchase of Serbian steel mill Zelezara Smederevo but is waiting for sale or lease approval by the Serbian government. A spokesperson for Esmark said the company is returning to Serbia next week for continued negotiations and expects the government to announce the final bidders at that time. […]
Esmark, Inc. announced it will convert the former Ohio Cold Rolling Company steel finishing mill, in Yorkville, Ohio, into a tri-modal services terminal to support oil and gas companies operating in the Marcellus and Utica shale plays. Ohio Cold Rolling was acquired by Esmark two years ago and subsequently closed. The repurposed facility will be […]
Severstal has agreed to pay $30 million to RG Steel in exchange for all of RG Steel Wheeling’s 50 percent interest in Mountain State Carbon LLC (MSC). The settlement will “release, acquit, and forever discharge” Severstal and RG Steel from any further claims or suits by the other, according to the docket filed in the […]
Severstal has agreed to pay $30 million to RG Steel in exchange for all of RG Steel Wheeling’s 50 percent interest in Mountain State Carbon LLC (MSC). The settlement will “release, acquit, and forever discharge” Severstal and RG Steel from any further claims or suits by the other, according to the docket filed in the […]
Media sources from Serbia report that Esmark Steel Group is in negotiations for a partnership with steel company Zelezara Smederevo. Bojan Bojkovic, financial director of Zelezara, said Esmark representatives visited the factory last week, as reported by American Metal Market. According to sources at Esmark, negotiation information released in Serbia was in violation of confidentiality […]
Steel Market Update sources confirmed that the two Severstal North America (NA) steel mills are for sale. At 7.0 million tons of steelmaking capacity, Severstal NA is the fourth largest flat rolled steel producing mill in the United States. Rumors of the possible sale of the Dearborn and Columbus facilities had been circulating around the […]
Steel Market Update sources confirmed that the two Severstal North America (NA) steel mills are for sale. At 7.0 million tons of steelmaking capacity, Severstal NA is the fourth largest flat rolled steel producing mill in the United States. Rumors of the possible sale of the Dearborn and Columbus facilities had been circulating around the […]
In case you missed the special issue we put out on Saturday we have reproduced the article below: Steel Market Update sources confirmed that the two Severstal North America (NA) steel mills are for sale. At 7.0 million tons of steelmaking capacity, Severstal NA is the fourth largest flat rolled steel producing mill in the […]
SMU was pleased to attend the Association of Steel Distributors (ASD) Regional Meeting in Pittsburgh at the Esmark Center on April 27. Esmark Steel CEO Jim Bouchard welcomed ASD members to its new “American steel built” global headquarters on the Ohio River. ASD members were treated to a cocktail hour followed by a presentation by […]
Would you want to start up your own service center in today’s environment? The risk and rewards are much different than in the past and, more often than not, entrepreneurs are not opening steel distribution centers. Last week, Steel Market Update attended the Platts Steel Markets North America conference, where the challenges of service center […]
Steel Market Update (SMU) has been advised that ArcelorMittal USA is attempting to raise Tinplate prices by 12 percent for calendar year 2014. Tinplate, which is used to make cans and other product packing devices, is commonly sold on an annualized contract basis to a fairly limited number of buyers. Last week we received an […]
Esmark Inc. announced management restructuring changes for Esmark Steel Group on Tuesday. Esmark Inc. Chairman and CEO James P. Bouchard will reassume the CEO duties of Esmark Steel Group formerly held by Thomas Modrowski. Esmark also advised Ohio Cold Rolling restart has been delayed. The restructuring affects management positions in both Esmark Steel Group and […]
Written by: Sandy Williams Start up of the Esmark Yorkville cold-rolling plant is on hold waiting for “a less volatile steelmarket” according to Esmark. Esmark acquired the renamed Ohio Cold Rolling Company from defunct RG Steel along with a 50 percent interest in the nearby tin plate production plant Ohio Coatings Co. in October 2012. […]
For union watchers out there, the Baltimore Brew broke a story today regarding the International United Steelworkers placing USW Local 9477 in “administratorship” with the intention of removing all but one of the local union officials. There is a question as to what will happen with the assets of USW Local 9477 which owned a […]
CSN has been looking to expand their operations in the United States ever since they acquired the bankrupt Heartland Steel and turned it into CSN, LLC. The Terre Haute, Indiana rolling facility is capable of taking hot bands and converting them to either cold rolled or galvanized steel – with the vast majority of the […]
Esmark Inc., Stahlschmidt Inc. and Bouchard Group LLC have announced the joint acquisition of Esmark Technologies. Esmark Technologies will provide technical management services across the steel, manufacturing and industrial sectors and will be based in Cleveland Ohio. Esmark Inc., founded by Chairman and CEO James Bouchard, has strong roots in the steel industry. Current interests […]