Mill Steel Co., a Michigan-based distributor of flat-rolled carbon steel, announced this week its expansion into the flat-rolled stainless steel and aluminum metal markets with the acquisition of Cleveland Metal Exchange (CME) and Chicago Stainless Metal Exchange. This represents the largest acquisition to date for Mill Steel Co. Details of the transaction, which closed Tuesday, were not disclosed.
A full line of stainless steel and aluminum products is now available through the Mill Steel Stainless and Aluminum division led by former CME CEO, Randy Horvat and President, Jeff Haas.
In addition, the entire CME team, with over 200 years of combined experience in the sourcing and processing of stainless and aluminum products, is joining Mill Steel's seasoned team of carbon flat-rolled specialists.
"We are thrilled to be entering the stainless and aluminum industry. This was an easy decision made by our customers and supports our plans for continued growth. I have the utmost respect for the CME team and confidence in our combined efforts to deliver a superior customer experience," said Pam Heglund, CEO of Mill Steel.
The company will immediately assume steel processing and supply for CME's array of manufacturing, automotive, and construction industry customers in the Southeastern, Mid-South and Western United States.