CLEVELAND–(BUSINESS WIRE)–Olympic Steel Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced that it has acquired the assets of Shaw Stainless & Alloy, Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced that it has acquired the assets of Shaw Stainless & Alloy, Inc. (“Shaw”). CLEVELAND – (BUSINESS WIRE) – Olympic Steel Inc. (Nasdaq: ZEUS), ведущий национальный центр обслуживания металлов, сегодня объявила о приобретении активов Shaw Stainless & Alloy, Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced it has acquired the assets of Shaw Stainless & Alloy, Inc. (“Shaw”). olympic steel inc. (Nasdaq: ZEUS)今天宣布，它已收购Shaw Stainless & Alloy, Inc. (Nasdaq: ZEUS)今天宣布，它已收购Shaw Stainless & Alloy, Inc. (“Shaw”) CLEVELAND – (BUSINESS WIRE) – Olympic Steel Inc. (Nasdaq: ZEUS), ведущий национальный центр обслуживания металлов, сегодня объявила о приобретении активов Shaw Stainless & Alloy, Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced it has acquired the assets of Shaw Stainless & Alloy, Inc. (“Shaw”). Cash purchases add value immediately. The terms were not disclosed.
The acquisition includes Shaw’s stainless steel marketing and manufacturing business, as well as barrier construction and protection businesses. Shaw will be part of Olympic Steel’s Specialty Metals division led by Andy Markowitz, president of the Specialty Metals division. The Shaw team will report to Zachary J. Segal, Vice President of Strategic Development at Olympic Steel.
“Continuing to acquire well-managed, high-margin businesses is a key element of our strategy,” said CEO Richard T. Marabito. “We are pleased to quickly reallocate some of the proceeds from the recently announced sale of our Detroit assets and operations. We expect Shaw’s high-yield results to replace previous Detroit revenue streams with a small portion of investment. Shaw is committed to safety and focused on excellence Superior customer service and strong values companies that align very well with the culture of Olympic Steel We applaud the Shaw team and their wealth of experience at Olympic Steel.”
“The show has expanded its footprint into specialty metals and the products and refining products we offer to our customers,” said Andrew Greiff, president and chief operating officer. “This acquisition also continues our strategic growth in metal-intensive end-use products, building on the success we have had with the Wright® dump hopper and the EZ-Dumper® truck insert. As with our previous acquisitions, we look forward to realizing commercial synergies that will support our efforts to generate consistently high returns and shareholder returns.”
Headquartered in Powder Springs, Georgia, Shaw is a full line distributor of stainless steel sheets, tubes, tubes, bars and angles. The company also manufactures and sells stainless steel bollards and water treatment systems. Founded in 1979, Shaw operates approximately 120,000 square feet of warehouse and manufacturing space in Marietta, Hiram, Powder Springs and Albany, Georgia. It will continue to operate as Shaw Stainless & Alloy, an Olympic Steel company, led by its existing management team, including President Bryan Shaw. It will continue to operate as Shaw Stainless & Alloy, an Olympic Steel company, led by its existing management team, including President Bryan Shaw. Он будет продолжать работать как Shaw Stainless & Alloy, компания Olympic Steel, во главе с существующей командой менеджеров, включая президента Брайана Шоу. He will continue to operate as Shaw Stainless & Alloy, an Olympic Steel company, led by the existing management team including President Brian Shaw.它将继续作为奥林匹克钢铁公司Shaw Stainless & Alloy 运营，由包括总裁Bryan Shaw 在内的现有管理团队领导。它将继续作为奥林匹克钢铁公司Shaw Он будет продолжать работать под названием Olympic Steel Shaw Stainless & Alloy под руководством существующей управленческой команды, включая президента Брайана Шоу. It will continue to operate under the Olympic Steel Shaw Stainless & Alloy name under the existing management team, including President Brian Shaw.
Shaw offers a variety of value-added manufacturing processes, including: custom machining; electropolishing and passivation; laser, gas, plasma, water jet, angle, saw and mechanical cutting; chamfering of steel; precision welding; metal forming; threading on pipes; cutting and cutting. grooving, painting, zinc plating, stainless steel polishing, flange connections, coatings, wraps and linings, pickling, oiling and degreasing, as well as a range of finishing and quality assurance tests.
Forward-looking statements in this press release are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified with words or phrases such as “may”, “will” and “expected”. “Shall”, “intends”, “expect”, “believe”, “estimate”, “design”, “plan”, “potential” and “continue” and negations of these terms or similar expressions. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by such statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Such risks and uncertainties include, but are not limited to, our ability to successfully integrate Shaw into our business, and the risks associated with the acquisition of Shaw in order to achieve expected results, including whether the acquisition will generate growth over the expected period of time. We undertake no obligation to publicly post any changes to any forward-looking statement or otherwise update any forward-looking statement, whether as a result of new information or to reflect events, circumstances or any other unexpected developments that occur after the date of such statement. . For an additional list and description of risks, uncertainties and other factors, please see our Annual Report on Form 10-K for the year ended December 31, 2020 and our reports on Forms 10-Q and 8-K.
Olympic Steel, founded in 1954, is the country’s leading metal service center specializing in direct sales of processed carbon, coated flat and stainless steel, coil and plate, aluminium, tinplate and metal-intensive branded products. A subsidiary of CTI is a leading distributor of steel tubes, bars, tubes, valves and fittings, and a manufacturer of value-added components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 41 facilities in North America, inclusive of the seven new locations added as part of the Shaw Stainless & Alloy acquisition. Headquartered in Cleveland, Ohio, Olympic Steel operates from 41 facilities in North America, inclusive of the seven new locations added as part of the Shaw Stainless & Alloy acquisition. Компания Olympic Steel со штаб-квартирой в Кливленде, штат Огайо, работает на 41 объекте в Северной Америке, включая семь новых объектов, добавленных в рамках приобретения Shaw Stainless & Alloy. Headquartered in Cleveland, Ohio, Olympic Steel operates 41 sites in North America, including seven new sites added as part of the Shaw Stainless & Alloy acquisition. Olympic Steel 总部位于俄亥俄州克利夫兰，在北美拥有41 家工厂，其中包括作为收购Shaw Stainless & Alloy 的一部分而新增的七个工厂。 41 家工厂，其中包括作为收购Компания Olympic Steel со штаб-квартирой в Кливленде, штат Огайо, имеет 41 завод в Северной Америке, в том числе семь новых заводов, добавленных в результате приобретения Shaw Stainless & Alloy. Olympic Steel, headquartered in Cleveland, Ohio, has 41 plants in North America, including seven new plants added through the acquisition of Shaw Stainless & Alloy.