Klöckner Press Release MSCUSA Acquisition Completed
Klöckner & Co SE acquires Macsteel Service Centers USA and evaluates itself into the top 3 steel distributors and service centers in North America.
Lakeland Florida Distribution Center
Newport Beach, CA — (April 1, 2011) —Macsteel Service Centers USA expands its business operations in the Southeast with the opening of a new 60,000 square foot distribution center in Lakeland, Florida.
The Lakeland facility will service the state of Florida. The facility stocks a full range of ERW pipe in Grades A, B and seamless. Future plans call for the product line to include flat rolled products.
Klöckner & Co intends to acquire Macsteel Service Centers USA
Steel Coil Services Acquisition
Newport Beach, CA — (February 28, 2011) —Macsteel Service Centers USA is pleased to announce the acquisition of the assets and business of Steel Coil Services in Catoosa, Oklahoma, a subsidiary of United States Steel Corporation (NYSE: X).
Michael Hoffman, President & CEO, Macsteel Service Centers USA said,” We are excited at the prospect of adding to our presence in the area by way of increasing our flat product processing capability. The management and employees of Steel Coil Services will be a welcome addition to our team, adding a new dimension in processing capability. It is also gratifying to expand our relationship with U. S. Steel by continuing to provide services to our mutually esteemed customers in the region.”
Klöckner & Co intends to acquire Macsteel Service Centers USA
Duisburg, Germany, January 19, 2011 – The Boards of Klöckner & Co SE and Macsteel Global B.V. are very pleased to announce that a Memorandum of Understanding (MOU) has been signed for the acquisition of Macsteel Service Centers USA (“MSCUSA”) by a US subsidiary of Klöckner & Co SE (Klöckner USA Holdings). The effective date of the transaction is planned to be the 1st of January 2011 and the final agreement is expected to be signed and closed in the beginning of the second quarter 2011. The transaction will be subject to the approval of the Board of Directors of both Parties as well as the Supervisory Board of Klöckner & Co SE and the antitrust authorities.
Gisbert Ruehl, Chairman of the Executive Board of Klöckner & Co SE “This acquisition would be an excellent strategic combination that will provide a platform for our future growth in North America. With the acquisition of Macsteel Service Centers USA, we would more than double our sales in the US, expand our geographical coverage and our product portfolio significantly. With that, we would expect to become one of the top three in the US steel distribution and service center industry with a meaningful spread of carbon steel products.”
Eric Samson will remain as the non-executive Co-Chairman of MSCUSA and join the Board of Klöckner USA Holdings in a non-executive capacity. Michael Hoffman will remain the President and CEO of MSCUSA and will also join the Board of Klöckner USA Holdings in an executive capacity and is intended to become the CEO of the combined business.
Bill Partalis will continue in his capacity as CEO of Namasco Inc and will become President of the combined business.
Announcement From Eric Samson
The Macsteel Group has been evaluating various opportunities over the past 3 years in particular, mostly in the USA. We have looked at a number of potential acquisitions, and in the course of this activity, we were approached by Klöckner & CO of Germany.
It became clear that there are substantial benefits to be had in combining the activities of Macsteel Service Centers USA Inc and those of the Klöckner Group in the USA (trading as Namasco). Discussions have resulted in the proposed transaction outlined in the attached announcement.
'Man of Steel' Eric Samson
showed signs he would make a great businessman while still at school. After a
cake sale at Parkview Junior , the principal announced that Samson had raised
the largest amount of money ever from selling biscuits and sweets - £19, 9s,
was nearly 60 years ago. Since then the Macsteel Holdings co-chairman has
applied his entrepreneurial skills to building a formidable empire in steel
manufacturing and trading, and shipping, with a global footprint. He now
presides over the biggest unlisted company in SA - bigger by sales even than De
Service Centers USA Announces Expansion to Tucson
Centers USA, Inc., owned by the global steel company, Macsteel Holdings of
South Africa announced plans today for the construction of a new $10 million
metals manufacturing and distribution facility in Tucson, Arizona. Macsteel
Service Centers USA plans to hire 25 employees within the next few years, with
possible expansion in the future.
new 73,400 square-foot facility is scheduled to open in late 2006 and will be
located on 8 acres. The state-of-the-art facility will process and distribute a
full array of steel and non-ferrous products to customers in the Southwest U.S
and Mexico. The operations will include a significant capital investment in the
most technologically advanced metals processing equipment.
Service Centers USA expands capabilities in Midwest -
Acquires Alpha Processing, Inc.
CA, October 4, 2005 -Macsteel Service Centers USA, Inc., announced today that
it is expanding its heavy gauge steel processing capabilities by acquiring the
business and assets of Alpha Processing, Inc. (API), located in Chicago,
Illinois. Terms of the purchase were not disclosed.
Processing, Inc. is owned by Paul H. Athens and a group of investors. In April,
Macsteel Service Centers USA had acquired Alpha Steel, a large distributor of
hot rolled plate and structural steel products. The Alpha Processing
acquisition adds heavy gauge cut-to-length processing and shot blasting to
Macsteel Service Centers' expanding portfolio of products and services in the
Service Centers USA expands presence in Midwest -
Acquires Alpha Steel
CA, April 19, 2005 -Macsteel Service Centers USA Inc., announced today that it
has acquired the business and assets of PHA Steel, LLC, operating under the
brand name Alpha Steel, a privately owned steel service center located in
Hammond, Indiana. Terms of the purchase were not disclosed.
Steel will operate under its existing name as part of Macsteel Service Centers
USA Midwest Division.
Their management will continue with the
on the Acquisition Trail" - Modern Metals Magazine
An excerpt from
Modern Metals Magazine - "The service center powerhouse has reinforced its
brand name in the marketplace. Now it's looking to add to its empire.
Macsteel Service Centers USA President and CEO Michael Hoffman would like to
see this year be an extension of last year's solid sales and upbeat market.
However, there will be one slight difference: a few more acquisitions."
Takes on Macsteel Service Centers USA Name
CA, February 2, 2005 - Macsteel Service Centers USA Inc., announced today that
its most recent acquisition, Hokin-Katz, a metals service center located in Los
Angeles, California, will now operate under the name Macsteel Service Centers
The newly named Los Angeles, CA plant specializes in close tolerance slitting
and precision blanking of high quality products including thin gauges, surface
critical coated and non-coated steel products and tin mill products, supplying
high end focused niche markets.
Michael Hoffman, Macsteel Service Centers USA President and CEO stated, As we
anticipated, Hokin-Katz has enhanced Macsteel's product offering and extended
our flat rolled customer base in the California market. We are delighted to
bring them under the Macsteel name."
Marshall Katz, Senior Vice President of the Los Angeles, CA plant stated,I
found the past months very exciting and challenging. It is indeed a compliment
to both management teams who joined forces, for with their combined effort they
have truly made Macsteel Service Centers USA the foremost metals distribution
name on the West Coast."
Macsteel Service Centers USA is one of the leading companies in the North
American metals service center industry. The company has a network of 30
locations, which includes the former Edgcomb Metals, Regal Steel, Baldwin Steel
and Ferro Union sites, all of which now operate as Macsteel Service Centers
USA. Macsteel Service Centers USA processes and distributes carbon, stainless,
aluminum and specialty metals to customers throughout North America and Puerto
Rico. Products include a full range of flat rolled, plate, tubing, pipe, bar
and structurals. The company also supplies a full range of steel building
products, coated and prepainted metals.
Macsteel Service Centers USA is headquartered in Newport Beach, CA and is owned
by the global steel company, Macsteel Holdings. ..
Strength of Samson" - FORWARD Magazine
An excerpt from
FORWARD Magazine - "The Macsteel Holding Group, which operates in 39 countries
worldwide, is undeniably huge. Macsteel's service center activities,
international trading in iron and steel, and shipping account for more than 25
million tons annually, and total revenue exceeds $6.4 billion. Even so,
Macsteel, headquartered in South Africa, has not yet begun to tap its full
potential in North America, owner and founder Eric Samson says. Most recently,
the Group's focus has been finding ways to build on Macsteel's many
opportunities in the United States, Canada and Mexico..."
Approach to Growth" - Metal Center News
An excerpt from
Metal Center News Online - "Macsteel USA leverages its size, systems and
services to satisfy a diverse and growing customer base. With more than $1
billion in sales expected this year, Macsteel Service Centers USA,
headquartered in Newport Beach, Calif., is among the top 10 metals distributors
in the United States. That kind of dominance took 20 years to develop and is
still a work in progress, according to three of the company's top executives."
Macsteel Service Centers USA
Expands in California-