Distributors/Service Centers
Liberty Closes on MSP Acquisition
Written by Tim Triplett
October 5, 2018
Liberty Steel Products Holdings is now the majority owner of Mississippi Steel Processing (MSP), located on the campus of Steel Dynamics’ Columbus, Miss., flat roll mill. MSP will continue offering a complete array of toll steel processing services in the Southeast and surrounding markets and looks to build on its position as an independent steel processor.
“We look forward to our partnership with MSP and enhancing its steel processing capabilities,” stated Jim Grasso, president and CEO of Liberty Steel Products.
MSP’s 245,000-square-foot toll processing facility offers slitting, leveling and cut-to-length in gauges from 0.015 to 0.625 with annual capacity of 750,000 tons. The company will add light-gauge slitting capacity by the end of this year and plans to install new heavy gauge stretcher leveling and blanking equipment in 2019.
“These enhancements following our acquisition are part of our plan to improve the ranges of steel products, quality, capacity and timely availability of toll steel processing throughout the southern U.S. market,” Grasso said.
“We are excited for the future of MSP and our partnership with Liberty,” added Chip Gerber, president of MSP. “The experience and reputation of Liberty in the industry is a welcome addition to our team at MSP. The planned enhancements with our processing capabilities will better align MSP with our customers’ strategic objectives.”
Liberty’s holdings now include Liberty Steel Products with operations in both North Jackson and Hubbard, Ohio; Liberty Steel Building Products; Welded Tubes, Inc. of Orwell, Ohio; and Mississippi Steel Products, Columbus, Miss.
Tim Triplett
Read more from Tim TriplettLatest in Distributors/Service Centers
SMU Mill Order Index fell in September
SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.
Ryerson, Olympic bet big on merger as steel slump enters third year
Executives framed the all-stock deal as a path to scale, efficiency, and long-term growth despite ongoing weakness in the metals market.
Olympic reports lower Q3 profits after Ryerson merger announcement
Olympic Steel reported a decline in third-quarter earnings on Tuesday, as the company separately announced its merger with service center giant Ryerson.
M&A blockbuster as Ryerson, Olympic Steel announce merger
National service center chains Ryerson Holding Corp. and Olympic Steel Corp. have announced a merger between the two companies.
Ryerson reports net loss in Q3 as weak demand offsets tariff price support
President and CEO Eddie Lehner said Ryerson has faced market headwinds in the third quarter.