Posted in | News | Ferrous Alloys and Metals | Materials Processing | Business | Iron and Steel

Monarch Steel Enters Purchase Agreement with Feralloy Corporation

Jul 18 2006

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Monarch Steel Company has announced that it has entered into a purchase agreement with Feralloy Corporation to acquire the Chicago-based company's operations and facilities at 4650 Johnston Parkway in Cleveland, near the interstate intersection of I-77 and I-480. Both companies are processors and distributors of steel products.

This transaction will be another step toward consolidating the flat roll processing capacity in the Cleveland area market and will strengthen Feralloy's overall performance within the industry, according to Frank M. Walker, president and CEO, Feralloy Corporation.

The transaction is expected to close within the next 30 days. Both companies have developed a mutual transition plan, which will provide service continuity to their customers during this interim period.

http://www.monarchsteel.com

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