Steel Product Producers

Charter Manufacturing buys Niles Iron & Metal
Written by Ethan Bernard
July 30, 2024
Charter Manufacturing, a diversified metals manufacturer, has agreed to buy regional scrap metal recycler Niles Iron & Metal Co.
Further terms of the deal were not disclosed by Brown Gibbons Lang & Co. (BGL), which served as the exclusive financial advisor to Niles Iron on the transaction.
Niles Iron has two locations in Niles, Ohio. One yard is dedicated to the purchase, processing, storage, and transportation of all grades of iron and steel scrap. The other focuses on nonferrous metals.
Mequon, Wisc.-based Charter has more than 2,300 employees across its corporate location and businesses.
“The deal is unique in today’s modern age because it brings together two fourth-generation privately held companies,” BGL said in a statement on Tuesday. “The new partnership will allow both companies to continue their family legacy while benefiting from existing synergies between Niles Iron and Charter Manufacturing.”

Ethan Bernard
Read more from Ethan BernardLatest in Steel Product Producers

August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.

TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.

Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.

ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.

AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]