Steel Technologies agrees to purchase Calstrip Industries

Kentucky-based processor Steel Technologies is set to acquire flat rolled processor Calstrip Industries. Financial details were not released.

Once the deal closes later this month, Steel Technologies’ portfolio will include 31 facilities, including joint venture operations, throughout North America. Steel Technologies is owned by NuMit LLC, a 50-50 joint venture between steelmaker Nucor and Mitsui & Co USA.

Calstrip supplies flat rolled carbon steel, stainless steel, galvanized, pre-painted, and aluminium through its facilities in California, New Mexico, Texas, and Arkansas. Its end markets include the appliance, electrical lighting, construction, HVAC, and automotive industries.

“This acquisition supports our dynamic growth strategy by deepening our ability to serve key customers in the southwest US and northern Mexico markets,” comments Steel Technologies president and ceo Thad Solomon in a news release seen by Kallanish.

Laura Miller USA