Aug. 19, 2015
Ryerson Acquires Southern Tool Steel
Ryerson, the Chicago-based metals distributor, has acquired Southern Tool Steel, a privately owned service center company headquartered in Chattanooga, Tenn. STS has two locations and 90 employees serving the southeastern U.S. Terms of the deal were not disclosed.
"STS brings extensive bar and plate processing capabilities to Ryerson, consistent with our focus on long products and value-added services," says Eddie Lehner, Ryerson's president and CEO. "Moreover, like our acquisition of Fay Industries announced in January 2015, we are joined by a company in STS that creates exceptional customer experiences in the southern U.S. market."
Southern Tool Steel’s customer base includes machine, tool and die shops, energy providers, automotive manufacturers, appliance manufacturers and aerospace parts manufacturers.
"Joining Ryerson enables Southern Tool Steel to capitalize on our growth opportunities and fulfill our primary objective, which is to solve problems and provide superior service to customers," says Arnold Erwin, chief executive officer of STS.