Steel Mills
Olympic Steel Acquires Action Stainless & Alloys
Written by Sandy Williams
December 14, 2020
Olympic Steel has acquired the assets of Action Stainless & Alloys, Inc., adding the Dallas, Texas-based distributor to its Specialty Metals business segment.
Action Stainless & Alloys is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing and pipe and offers a range of processing, including plasma, laser and waterjet cutting and CNC machining. The company operates approximately 145,000 square feet of warehouse space across five facilities in Dallas and Houston, Texas; Springdale, Ark.; Rock Hill, S.C.; and Kansas City, Mo. The business generated more than $40 million in sales during 2019.
“The history of strong business performance from Action Stainless delivers on our growth strategy and furthers our efforts to reduce cyclicality and consistently earn stronger returns,” said Richard T. Marabito, Olympic CEO. “Continued growth of our specialty metals business is an important element of our strategy. In addition, the culture and focus on safety at Action Stainless are well-aligned with Olympic Steel, which will make for a seamless and successful integration.”
Acton Stainless & Alloys will continued to operate under its established brand, led by Lee Martinson, President of Action Stainless & Alloys, and the existing management team.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.