Steel Mills
U.S. Steel Sells Interest in Acero Prime to Reliance
Written by Tim Triplett
October 25, 2018
Reliance Steel & Aluminum Co. is now the sole owner of Acero Prime and its affiliate Acero Prime Servicios, a toll processor with four locations in Mexico. Reliance was the majority owner but purchased the remaining 40 percent interest from joint venture partner U.S. Steel. Terms of the transaction were not disclosed.
“Acquiring the remaining ownership interest in Acero Prime supports our capital allocation strategy of investing in high return opportunities that enhance our long-term earnings potential,” said Gregg Mollins, Reliance President and CEO. “Our toll processing businesses are strong performers that provide high levels of value-added processing, and we believe complete ownership will allow us to more fully support volume growth in important end markets such as automotive. Acero Prime is a highly respected name in the industry and community, and we look forward to expanding our presence in toll processing where demand continues to be strong.”
Founded in 1999, Acero Prime performs metal processing services such as slitting, multi-blanking and oxy-fuel cutting, as well as storage and supply-chain management for a variety of different industries including automotive, home appliance, lighting, HVAC, machinery and heavy equipment. Acero Prime has locations in San Luis Petosi, Ramos Arizpe, Toluca and Monterrey. For the year ended Dec. 31, 2017, Acero Prime’s net sales totaled $37.6 million.
Tim Triplett
Read more from Tim TriplettLatest in Steel Mills
Nucor navigates mixed flat-rolled markets with strategic muscle
Nucor entered the fourth quarter with clear forward momentum: stronger-than-expected results, solid sheet and plate demand, and construction progress on a major new mill that should add capacity next year.
Nucor scraps plans for new rebar micro mill in Pacific Northwest
Nucor has pulled the plug on a planned rebar micro mill in the Pacific Northwest.
Nucor profits jump, but company cautions on Q4 outlook
Nucor’s profits more than doubled in the third quarter year over year, but the company expects Q4’25 to be lower sequentially.
SDI announces proprietary low-carbon EDGE products
Steel Dynamics has announced lower-embodied-carbon steel products BIOEDGE and EDGE, and expects “immediate interest” from several markets for some of the offerings.
Wheeling-Nippon Steel raises Galvalume coating extras
The steelmaker released updated extras to customers on Oct. 15, marking the second adjustment in just six weeks following their early September revision