Distributors/Service Centers
November 13, 2024
Written by Stephanie Ritenbaugh
Mississauga, Ontario-based metals distributor Russel Metals has inked a deal to buy Tampa Bay Steel for $79.5 million.
Tampa Bay Steel Corp., a Florida-based steel distributor and metal processor, generated average annual revenues and adjusted EBITDA of $115 million and $13 million, respectively, over the past five years.
The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.
Service centers and manufacturers report a tight, seller-driven market for galvanized sheet. Lead times are long, deliveries are late, inventories are thin, imports are down, and demand is strong, causing a shortage of galvanized material.
US service centers’ flat-rolled steel supply declined in August, making the marginal gain the month prior an outlier year-to-date. Shipping days of supply slipped to 44.2 in August, according to SMU data.
Carolina Heavy Steel is set to establish heavy steel processing, fabrication, and coating operations in Ridgeville, S.C.
Totten Tubes has opened a new facility in Cedar City, Utah. The steel tubing distributor and processor, based in Azusa, Calif., recently celebrated the facility’s grand opening.