Steel Mills
Olympic Acquires Berlin Metals
Written by Tim Triplett
April 3, 2018
Olympic Steel, Inc., has acquired Berlin Metals LLC, the Hammond, Ind., service center. Terms of the all-cash deal were not disclosed.
With approximately $50 million in annual sales, Berlin Metals processes and distributes prime tin mill products and stainless-steel strip in slit coil form. The company is also a supplier of galvanized, light-gauge cold rolled sheet and strip, as well as other coated steels in coil form, to customers in the building products, automotive, and specialized industrial markets.
“This acquisition adds new products and markets, both of which are central to our growth strategy,” said Olympic Steel’s Chairman and Chief Executive Officer Michael Siegal. “Berlin Metals also has a growing stainless-steel business, compounding our organic growth in these products. With minimal customer overlap, this is a perfect complement to existing operations.”
The purchase includes four coil slitters operating from a 120,000-square-foot facility in Hammond. Berlin Metals will continue to operate under its well-known brand. The management team, including President Roy Berlin, will remain at the company. The business will be included in Olympic Steel’s Specialty Metals Flat Products reporting segment, which is led by Specialty Metals President Andy Markowitz.
Tim Triplett
Read more from Tim TriplettLatest in Steel Mills
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
USS, Nippon Steel quiet as litigation deadline approaches
There has been little word from U.S. Steel, Nippon Steel, or the White House since President Trump endorsed the companies’ “partnership” on social media and celebrated it at the May 30 rally outside Pittsburgh.
AISI: April mill shipments fall, sheet down YTD
US steel mills saw a decline in shipments from March to April.
Hybar rolls first rebar, ramping up Arkansas mill commissioning
The startup steelmaker produced its first rebar at its greenfield steel mill in Osceola, Ark., marking a key milestone by completing construction in 22 months.
Goncalves: Despite higher tariffs, two Cliffs mills to remain idled
Cleveland-Cliffs Chairman, President, and CEO Lourenco Goncalves said he would keep one mill idled and still plans to idle another despite increased protections from Section 232 tariffs doubling to 50%.