Nov. 12, 2014
Esmark Interested in Serbian Mill
Esmark Chairman and CEO James P. Bouchard acknowledged his company's interest in acquiring the assets of Serbian government-owned Železara Smederevo d.o.o., confirming months of speculation that the Chicago Heights, Ill.-based company was one of the suitors for the European mill. Železara Smederevo is a producer of hot- and cold-rolled steel products, plus tin-plated coated products for customers in Central Europe.
Bouchard said he met with Serbian Prime Minister Alexander Vucic about Esmark's interest and "had an extremely productive and fruitful discussion. He advised us of the Serbian government's intentions to announce a public tender process within the next few days. We committed to Prime Minister Vucic that Esmark would submit an offer for Železara Smederevo during the tender process."
In conjunction with the pursuit, Esmark has assembled a management team for Esmark Europe. The group had worked with Bouchard at U.S. Steel’s Kosice facility in Slovakia. The management group includes Mark Whalen, CEO; Karl Csensich, executive vice president and CFO; Michael DiClemente, executive vice president of finance and treasurer for Esmark Europe and Esmark Inc.; David Luptak, executive vice president and general counsel; Michael Ogrizovich, executive vice president; Steve Powers, vice president of commercial; John Davis, vice president of engineering and purchasing; Diane Powers; general manager of commercial sales; and Paige Polombo, vice president of logistics.
Esmark is the 28th largest steel service center company in North America with annual revenue of about $400 million. Though this would become the company's first steel production facility, Bouchard's previous Esmark entity acquired the former Wheeling-Pitt mill before selling it to Severstal North America.