Service Centers
Ranger Steel Acquires Heavy Plate Distributor Nance
Written by Laura Miller
October 25, 2023
Ranger Steel Services has acquired the steel operations of Detroit-based heavy plate distributor Nance.
The acquisition includes Nance’s stocking locations in Detroit, Chicago, Houston, and East Liverpool, Ohio.
The headquarters of the new entity, Nance Steel Sales, will be in Houston. Operations there are scheduled to begin on February 1, 2024.
“The synergy created by further perfecting the product ranges offered by both Nance and Ranger Steel, coupled with the additional yard locations nationwide, will only serve to enhance opportunities to our mutual clientele,” Ranger Steel said in a statement sent to SMU.
Houston-based Ranger Steel is a privately owned steel plate distributor with locations in Houston; Tulsa, Okla.; Fort Worth, Texas; and the Los Angeles Basin.
It serves the shipbuilding, oil and gas, mining, industrial construction, and service center sectors, as well as fabricators of heavy plate, vessel and heat exchangers, storage tanks, bridges, electrical transmission, and rail cars.

Laura Miller
Read more from Laura MillerLatest in Service Centers

Russel Metals to buy seven of Samuel’s operations
Canadian metals distributor Russel Metals Inc. plans to acquire Samuel, Son & Co.’s carbon plate service center operations in Western Canada and the US for roughly $225 million.

Friedman Posts Better Fiscal Q2 Results Despite Falling Steel Prices, Sees Better Times Ahead
Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.

Worthington Board OKs Separation of Steel Processing Business
Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.

Russel Metals Q3 Earnings Slip on Volatility
Canadian metals distributor Russel Metals reported lower earnings in the third quarter as the company “navigated through volatile market conditions.”

Olympic’s Q3 Earnings Up, But Sales Slide on Lower Metal Pricing
Olympic Steel’s earnings edged up in the third quarter vs. a year earlier, though sales declined due to lower metal pricing, the Cleveland-based metals service center said.