Steel Mills
Worthington Industries Acquires Rome Strip Steel
Written by Sandy Williams
January 16, 2015
Worthington Industries, Inc. announced Wednesday that it has signed an agreement to buy Rome Strip Steel Company, Inc. for an undisclosed amount.
Rome Strip Steel is based in Rome, N.Y., and has a warehouse facility in Walhalla, S.C., Employing 130 people., Rome manufactures cold rolled strip steel primarily for the automotive industry. The companies capabilities include rolling, annealing and slitting a wide range of cold rolled alloy, high carbon, low carbon close tolerance strip steels and various grades of high and low strength alloy steels.
“Rome is one of the best in the industry with a culture similar to Worthington,” said Geoff Gilmore, president of Worthington Industries Steel Processing. “The addition of Rome will expand our ability to process close-tolerance material with custom surface finishes and increase our overall production capacity. This acquisition supports our strategy to focus our growth on high value-added products.”
The transaction is expected to be completed later this month and will expand Worthington’s cold rolled strip steel production capacity to three facilities including Columbus and Cleveland, Ohio. Rome’ posted 2013 sales of approximately $70 million.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cleveland-Cliffs quietly removes name from Steelton mill
The Cleveland-Cliffs name has been removed from its idled Steelton rail mill. SMU asked Cliffs about the move and if it might signal that it is selling the mill...
Nucor sees sequentially lower Q3 profits across all three business segments
Nucor's third-quarter earnings will be down quarter-over-quarter, but still higher than a year earlier.
Hyundai still on for Louisiana steel mill despite US raid at Georgia battery plant
Hyundai has reaffirmed its commitment to build a steel plant in Louisiana following a US government immigration raid at its battery facility in Georgia.
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.