• Skip to main content

    Distributors/Service Centers

    January 15, 2017

    Jerry Henry, Jr. Acquires Remaining 50% Interest in Paragon Steel

    Written by John Packard

    BUTLER, IND. – January 12, 2017 – Jerry Henry, Jr. announced today that he has acquired the remaining 50 percent equity interest in Paragon Steel, LLC. Paragon Steel is a distributor and “toll processor” of flat-rolled steel products for a wide range of customers. The company was founded in 1994 as a joint-venture between Henry and Steel Dynamics, Inc.  As a result of this transaction, Henry now owns 100 percent of Paragon Steel.  Paragon Steel has grown significantly over the years and currently employs approximately 60 people at two facilities located in Butler, Indiana near the Steel Dynamics, Inc. sheet mill. The Henry family will oversee operations at Paragon Steel. 

    Henry also owns Midwest Pipe & Steel, Inc. and Paragon Tube Corp. The Midwest division has grown dramatically in the flat-rolled segment in recent years. The acquisition of the remaining 50 percent equity ownership will provide capacity and capability for companies owned by Henry to continue to grow in the flat-rolled steel market.

    John Packard

    Read more from John Packard

    Latest in Distributors/Service Centers

    Russel’s profits skyrocket in Q3 as revenue hits quarterly record

    Russel Metals’ earnings soared in the third quarter amid strong market conditions as revenue hit a quarterly record. The Mississauga, Ontario-based metals distributor reported net earnings of Canadian $125.5 million (USD$88.8 million), 259% higher than CAD$35 million a year earlier. Net sales increased 56% to CAD$1.82 billion in the same comparison, a record quarterly level. The company said Q3’26 shipments from its metal service centers fell 3% vs. the second quarter due to normal seasonal factors but rose 29% from a year earlier.

    SMU Profile: Worthington’s Gilmore speaks on ‘tough’ market, Kloeckner integration

    Worthington Steel Chief Executive Geoff Gilmore said this is the toughest steel market he's seen in his nearly three decades in the industry. Gilmore, president and CEO of Columbus, Ohio-based Worthington Steel, recently spoke to SMU about the progression of the company’s acquisition of Germany-based Kloeckner & Co, as well as trends he’s seeing in the market and in the service center space. “I've been in the business for 28 years, and this is the toughest market that I've encountered,” Gilmore told SMU. He cited factors such as stretched lead times, mill consolidation, maintenance outages, and very limited imports affecting availability.

    SMU Survey: Buyers push price peak expectations later despite competitive imports

    Buyers in SMU’s latest Flat-Rolled Steel Survey increasingly expect hot-rolled (HR) coil prices to keep climbing into year-end and beyond. But competitive import offers have not yet eased concerns about tight availability: most surveyed manufacturers and service centers said foreign suppliers were quoting competitive prices, while many service centers said they were still buying imports to secure additional tons. As of Tuesday, Oct. 27, current spot prices for HR coil range from $1,280 per short ton (st) to $1,330/st, averaging $1,305/st, according to SMU’s market survey. Looking two months ahead, 41% of respondents to our Oct. 28 survey expected HR coil prices to be $1,300-1,349 per short ton (st) in two months, down from 47% in our survey two weeks earlier.

    National Material acquires Arlington Metals, companies see a win-win

    National Material Company has completed its acquisition of Arlington Metals Corp., the companies said in a joint press release. National Materials, a service center based in East Chicago, Ind., said the acquisition of Arlington Metals, a Franklin Park, Ill.-based toll processor, will allow it to serve customers across a broader range of markets and metals. "Arlington Metals is a great fit for us," said Blake Johnson, president of National Material.