Macsteel Acquires Steel Coil Services
Macsteel Service Centers USA, in the process of being acquired by Klockner & Co. SE, has added a new company to its portfolio. The Newport Beach, Calif., service center company has acquired the assets and business of Steel Coil Services, Catoosa, Okla. SCS is a subsidiary of U.S. Steel Corp.
“We are excited at the prospect of adding to our presence in the area by way of increasing our flat product processing capability. The management and employees of Steel Coil Services will be a welcome addition to our team, adding a new dimension in processing capability. It is also gratifying to expand our relationship with U.S. Steel by continuing to provide services to our mutually esteemed customers in the region,” says Michael Hoffman, president and CEO of Macsteel Service Centers USA.
Earlier this year, Macsteel Global B.V. agreed to a deal that would combine its U.S. service center holdings with Klockner’s U.S. subsidiary, Namasco. The deal is expected to close in the second quarter.