Olympic Steel Announced Acquisition of Metal Works

SEATTLE (Scrap Monster): Olympic Steel, Inc., a leading national metals service center, announced the acquisition of Metal Works, a leading manufacturer of solar canopy and ground racking components made of coated carbon steel and aluminum, as well as parts for boat docks, long gutters, deck clips, and service station canopies. The all-cash transaction's other specifics were kept under wraps.

RELATED NEWS:

Olympic Steel Signed New Deal to Acquire Texas Steel Distributor

Olympic Steel Declares Official Opening of its New Buford Facility

Following the sale, Metal Works will remain the name of the purchased company. President Ben Houston and his staff will be in charge of it. The company's financial performance will be reported under the Carbon Flat Rolled business segment of Olympic Steel.

Metal Works has been in business since 2003. It operates from two facilities in Oakwood, Georgia.

Olympic Steel CEO Richard T. Marabito expressed his excitement about Metal Works joining the company. Metal Works' culture fits very nicely with the business. He went on to say that the company's financial results will immediately improve with the inclusion of the reputable brand.

The company's cutting-edge manufacturing skills and processing equipment will be a great complement to Olympic Steel's expanding portfolio, according to Andrew S. Greiff, President and Chief Operating Officer of Metal Works. According to him, the company's higher-return goods and services will increase sales and profit margins.