Chicago, Illinois-based US metals processor and distributor Ryerson has acquired Missouri-based processor Ford Tool Steels, Kallanish learns.
According to Ryerson, this most recent acquisition is a strategic move to help expand the company’s tool steel operations. Ford Tool Steel has provided metals processing services to the Midwestern US for over 75 years.
“Joining the Ryerson family of companies will help us continue to bring value for our customers for years to come,” says Ford Tool Steel owner Susan Gasser.
In the first quarter of this year, Ryerson earned $163.6 million on sales of $1.75 billion. The company’s record-high revenues were primarily driven by a 2.3% increase in average selling prices from Q1 of the prior year.
“We welcome [Ford Tool Steel] to the Ryerson family of companies and look forward to continued growth as we work to better serve tool steel customers across our business,” adds Eric McGill, the South region president for Ryerson.
Zach Johnson USA