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 HR and offshore prices hold steady
Domestic hot-rolled (HR) coil prices were flat this week, a trend mirrored in offshore markets.
North American auto assemblies improve in February
After slumping in December to the lowest total since July 2021, February assemblies further expanded on January’s growth.
US light-vehicle sales improve in February
US light-vehicle (LV) sales increased to an unadjusted 1.22 million units in February, a 9.9% gain over January but 0.7% behind year-ago totals, according to US Bureau of Economic Analysis data.
February service center shipments and inventories report
Flat rolled = 58.6 shipping days of supply Plate = 49 shipping days of supply Flat rolled With the rapid run up in prices, US service centers saw a significant pickup in orders that caused flat-rolled steel supply to decline in February. At the end of February, service centers carried 58.6 shipping days of flat-rolled […]
Leibowitz: Trade — bedrock economic relationships are circling the drain
Which is more important: producers or consumers? New (and arbitrary) steel and aluminum tariffs took effect last Wednesday. Based on the Section 232 trade restrictions initially imposed in 2018 – and kept by the Biden administration – they abrogate agreements between the US and Canada, Mexico, the UK, the EU, Argentina, Brazil, and Australia. They […]