Feb. 1, 2017

Outokumpu Divests Indiana Mill

D’Orazio Capital Partners LLC and current mill management have purchased the quarto plate stainless steel mill in New Castle, Ind., from Finland’s Outokumpu. The company will operate under the name New Castle Stainless Plate LLC.

“After more than 45 years, we are pleased to return this great facility to American ownership,” says Michael Stateczny, president. Stateczny led the acquisition team that included five other members of the plantʼs senior leadership. All six become minority owners in the new business and will continue in their management roles.

“This mill is recognized for producing world-class specialty and standard grades of stainless steel. We are committed to continuing this legacy. Our team, including our leaders, managers, and mill employees, will remain intact,” says Stateczny. The mill employs 112, including 73 members of UAW Local 729.

“We initially were attracted to the New Castle business because of the acumen of its leadership team, its committed employees, its dedicated supplier base and its loyal customers. The new company also offers tremendous opportunity in terms of product portfolio and financial security. With a relatively recent capital improvement of $58 million, the mill is well-positioned to continue to perform profitably,” says William F. Kaczynski, Jr., senior managing director of DʼOrazio Capital Partners


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Saturday, December 16, 2017