Steel Products
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.”
{loadposition reserved_message}
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 Products
US rig count slips, Canada ticks higher
ncreases through September, according to the latest Baker Hughes rig count data.
CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.