UP Acquires Xcel Steel’s Pickling Operations
By Metal Center News Staff
on Oct 11, 2018
Chicago-based Union Partners has acquired the assets of Xcel Steel's pickling operations in Dearborn, Mich. The division has joined Union Partners-owned Maksteel and will now operate under the name Maksteel Processing. As this transition occurs, there will be no interruption in service to customers, UP executives claim.
"Union Partners has a demonstrated history of successful acquisitions and I am confident our pickling team and operations will flourish as they enter this new chapter," said Xcel Steel Processing CEO Connie Ardelean. "We are excited to continue to receive the same great pickling services from Maksteel Processing, only now as an outside customer. The Detroit location of Xcel Steel Processing will continue its existing slitting operations, under its current ownership."
Maksteel Processing offers a push/pull pickling line capable of processing hot rolled, high strength low alloy, and advanced high strength steel coils up to 72 inches wide and 400,000 tons per year. This addition cements Union Partners' strategy of enhancing and streamlining capabilities and services across their companies to enable a seamless experience for their customers throughout North America. Maksteel Processing will also invest in significant upgrades to its facility and equipment, starting immediately.
"We are thrilled to announce the acquisition of Maksteel Processing," said Union Partners co-founders Chris Hutter and Paul Douglass in a joint statement. "This was a clear decision for us; not only are we gaining equipment capabilities, but also a strategic rail-served location in the heart of mill and automotive country. With this addition, we look forward to becoming an even more convenient one-stop-shop to our customers."