One year after the service center industry shattered most records in the annual Metal Center News’ Top 50, the industry has done it again. But the first seven months of 2023 suggest a third-straight year is not in the offing.

Historic pricing and strong demand led to across the board sales records in the 20th year of MCN’s survey of North America’s largest service centers. Photo courtesy Reliance Steel & Aluminum.

A promising year for the industrial economy was turned on its head by the biggest public health crisis the globe has seen in more than a century.

Specialty metals distributor A.M. Castle, Oak Brook, Ill., intends to become a private company, based on a filing with the Security and Exchange Commission. The company’s board of directors determined the continued costs associated with remaining a publicly traded company could not be justified to the company and its shareholders at present.

A.M. Castle reported net sales of $87.7 million in the second quarter, a 42.7 percent decline from the same quarter in 2019. Sales were down 33.3 percent compared with the prior quarter.

A.M. Castle & Co., Oak Brook, Ill., has promoted President Marec Edgar to CEO and a member of the board of directors. Steve Scheinkman will retire as chairman and CEO of the specialty metals distributor.

A.M. Castle & Co., Oak Brook, Ill., reported net sales of $136.1 million In the third quarter, an 8.1 percent decline compared to the same month the prior year. The specialty metals distributor reported a net loss of $12.2 million, nearly double the $6.7 million loss reported in the same quarter of 2018.

The grounding of Boeing 737 is just one of the challenges facing the otherwise strong aircraft industry.

A.M. Castle & Co., Oak Brook, Ill., reported net sales of $147.9 million in the second quarter, a 1.7 percent decline compared with the second quarter of 2018. The company reported a net loss of $8.3 million, largely flat with the second quarter last year.

A.M. Castle & Co., Oak Brook, Ill., reported net sales of $149.5 million in its first quarter, a 2.5 percent increase compared to the same month in 2018.

Union Partners LLC has appointed industry veteran Steve Letnich as the chief operating officer of Contractors Steel. Letnich succeeds Marc Bokas, who has retired after 40 years in the industry.

A.M. Castle & Co., Oak Brook, Ill., has qualified to trade on the OTCQX Best Market after previously trading on the OTCQB Venture Market. The OTCQX Best Market is reserved for companies meeting high financial standards, adhering to best corporate governance and compliance practices and requires a professional third-party sponsor introduction.

Activity in the commercial aerospace market picked up in 2018, as destocking moderated. More of the same is anticipated next year.

A.M. Castle & Co., Oak Brook, Ill., reported net sales of $148.1 million in the third quarter, a 20.2 percent increase compared with the same period in 2017. Net sales dipped 1.5 percent from the prior quarter.

Marec Edgar has been promoted to president of A.M. Castle & Co., Oak Brook, Ill. Steve Scheinkman, who previously served as president, will continue as the company’s chairman and CEO and focus on the company’s growth initiatives.

A.M. Castle & Co., Oak Brook, Ill., reported increased sales in the second quarter compared to both the previous quarter and the same quarter in 2018. Castle’s sales of $150.4 million in the quarter were up 3.1 percent from the prior quarter and 10.2 percent compared with the same year in 2017.

A.M. Castle, Oak Brook, Ill., has closed an expansion of its existing credit facility to increase its borrowing capacity by $25 million. Castle’s first lien credit facility, PNC Bank will provide the additional capacity.

A.M. Castle and Co., Oak Brook, Ill., reported sales and volume increases during its first quarter. The specialty metals distributor reported net sales of $145.9 million, an increase of 18 percent over the prior quarter and 7 percent over first-quarter 2017.