April 29, 2015
Castle Taps Former Transtar Head to Lead Company
Stephen Scheinkman has been appointed president and CEO of A.M. Castle, one of the nation’s largest service center companies. Scheinkman has replaced Scott Dolan, who resigned from the struggling company and its board of directors.
Scheinkman had been the president and CEO of Transtar Metals, which Castle acquired in late 2006. He has also worked as president and CEO of Innovative Building Systems, LLC, and as a director of Claymont Steel Holdings. Before joining Transtar, he was president of Macsteel Service Centers USA.
“We are excited to announce the appointment of Steve Scheinkman to the position of president and CEO of A.M. Castle, Oak Brook, Ill. We believe it is critical that we have a CEO in place who can lead us through this restructuring, which is necessary to address changes in the business and the marketplace. Steve’s background in the metals service center industry, as well as his history with our organization, make him an ideal candidate to return the company to long-term prosperity and to recapture our niche leadership position in the industry,” says Brian Anderson, chairman of the board.
Castle has struggled to regain profitability since the 2008-09 recession. The company has spent the past two years in an extensive restructuring program, closing several locations and cutting salaries and other expenses.
“A.M. Castle has a 125-year history of excellence in the provision of specialty products, services, and supply chain solutions. While the company has taken numerous steps to right-size itself over the last few years, more work needs to be done to create a more nimble cost structure, improve our supply chain, and better leverage our commercial organization. I’m very excited at the opportunity to lead the company and look forward to working with our talented employees, customers, investors, and partners to position the company for long-term prosperity,” Scheinkman says.