Samuel, Son & Co. Acquires Doral Steel
Wayne Bassett, President and CEO of Samuel, Son & Co., Limited and Cam Smith Sr., Chairman and founder of Doral Steel Inc., have announced the acquisition of Doral Steel by Samuel. This transaction is set to close on November 30, 2011 with Doral Steel continuing to operate as a stand-alone business. Both the President and Executive Vice Presidents of Doral Steel will continue their positions, but President Cam Smith Jr. will now report to Al Bromley, President of USA Service Centers for Samuel.
Samuel will be adding Doral as a major supplier of carbon flat rolled products in North America, which has “a 120,000 square foot facility and operates four slitters in Toledo Ohio, has a 58,000 square foot facility operating two slitters in Clinton, Tennessee, and has an exclusive processing agreement for use of a slitter and cut to length line in Monterrey, Mexico,” according to Samuel’s press release.
Both companies said this acquisition is a good fit as Wayne Bassett comments, “Doral Steel is an excellent addition to our existing Service Center operations,” while Cam Smith Sr. said Samuel “will provide the resources necessary to allow Doral and its’ employees to grow.”
Source: Samuel, Son & Co., Limited