Service Centers
March 29, 2020
Written by Tim Triplett
Service centers polled by Steel Market Update this week reported layoffs and sales declines expected to range from 30-70 percent. Steel orders are being canceled or delayed at most companies as steps to fight the coronavirus take a toll on regional economies across the country.
Following are some executives’ comments:
Russel Metals posted solid second-quarter earnings. The Toronto-based company anticipates a continuation in steady demand for its service centers and steel distributors.
Flack Global Metals (FGM) said it has completed an investment in Windsor America, parent of Windsor Door, Garage Door Services of USA and Lodi Door.
Despite an uncertain economic outlook, Olympic Steel is expecting demand to remain steady in the current quarter.
Jackson, Mich.-based Alro Steel said it plans to acquire Heimansohn Steel, a metals service center based in Clarksville, Tenn. Alro’s aquisition is expected to close by July 28, the company said in a news release on July 11. “We are excited to welcome Heimansohn Steel to the Alro family. This acquisition will benefit our customers with […]
Leeco Steel has acquired Texas plate processor Titan Steel. Titan Steel, based in Alvarado, Texas, specializes in plasma and oxy-fuel cutting and machining of steel plate. The acquisition will allow Leeco to produce parts that require precision machining and milling. The purchase closed on June 30. Terms of the deal were not disclosed. As of […]