Report: Ryerson, Amazon Reach Deal on Chicago Facility
By Metal Center News Staff
on Mar 4, 2021
The Chicago Tribune reported Ryerson has a deal to sell the company’s Central Steel & Wire facility in Chicago to Amazon to be developed as the online retailer’s newest storage and distribution space. The deal is for a reported $45 million.
Upon completion of the acquisition, the Tribune reports, the company would sell the site to Amazon then lease it back for the next two years to continue to operate the service center. Amazon would ultimately redevelop the 70-acre site.
The future of the existing service center operating there after the two-year lease-back agreement ended was not known. Metal Center News requested comments from Ryerson on the matter.
Ryerson acquired Central Steel & Wire in 2018, one of the largest transactions in the company’s history. Central Steel & Wire, founded in 1909, operated six locations with more than $600 million in revenue when acquired by North America’s second largest service center company.