Mill Steel enters stainless, aluminum market through acquisition
A local distributor of flat rolled steel products expanded into new markets with a recent acquisition.
Grand Rapids-headquartered Mill Steel Company said it has acquired the Cleveland Metal Exchange (CME) and the Chicago Stainless Metal Exchange in its largest acquisitions ever. Terms of the deal were not disclosed.
With the new combination, Mill Steel will launch a stainless and aluminum division with a full range of stainless steel and aluminum products. Former CME CEO Randy Horvat and President Jeff Haas will lead the division.
“We are thrilled to enter the stainless and aluminum industry. It was an easy decision made by our customers and supports our plans for continued growth. We have the utmost respect and believe in our joint efforts to provide a superior customer experience.
Mill Steel said it plans to leverage CME’s extensive supply chain as well as its vast processing footprint and carrier network to bring competitively priced aluminum and stainless products to market.
The company immediately began processing and supplying steel to CME’s customers in the Southeast, Mid-South and West US regions.
According to Mill Steel, the entire CME team will remain on board during the transition.
Horvat and Haas said, “With Mill Steel’s financial strength, supplier relationships and reputation, we view this merger as transformative, creating Mill Steel one of the largest full-line service centers in the country. “