Tag: M&A

Worthington Steel is taking a pause on M&A activity as it focuses on progressing its electrical steel expansions in Mexico and Canada.

Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.

Olympic Steel said it's open to future acquisitions in all three of its business segments.

At SMU, our goal is not to tell you what to think but to keep the conversation going. We asked you in our survey this week what you were seeing when it comes to steel prices, demand, imports, and wildcards. In your own words, with minimal editing, here’s what some of you in the SMU community shared with us this week.

Alan Kestenbaum, the CEO of Stelco, said the company is actively evaluating ways to grow the company, including both organic and inorganic opportunities.

ArcelorMittal indicated that a sale of U.S. Steel to Nippon Steel could lead to it taking full control of AM/NS Calvert, its joint venture sheet mill in Alabama. "Typically, in such situations, when there is a selling partner, they sell it to the other partner in the joint venture, right. So I could imagine such a situation would develop,” Mittal said.

Reliance Steel & Aluminum Co. announced on Feb. 2 that it has acquired Tifton, Ga.-based Cooksey Iron & Metal Co.

Cleveland Cliffs executives didn’t mince words when opening its Q4’23 earnings call.

Worthington Industries recently completed its separation into two distinct companies: Worthington Steel and Worthington Enterprises. SMU sat down this week with Geoff Gilmore, president and CEO of Worthington Steel, to find out how the separation process went, and what’s on the horizon for the Columbus, Ohio-based company.

SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.

Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. You can register here.

Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. We’ll discuss M&A in the steel and metals industries. Is there still room for consolidation in flat-rolled steel?

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.

Ranger Steel Services has acquired the steel operations of Detroit-based heavy plate distributor Nance.

On the company’s third-quarter earnings call with analysts on Tuesday, Oct. 24, Cleveland-Cliffs executives were careful not to disclose anything about their talks with U.S. Steel on a potential acquisition.