Quanex completes Monroe acquisition

Quanex completes Monroe acquisition

According to recent industry news, US based Quanex Corporation has recently announced that it closed the asset purchase of Monroe, Michigan steel mill of North Star Steel, a subsidiary of Cargill for $115 million in cash. The mini-mill facility produces over 500'000 tons of special bar quality and engineered steel bars in dia ranging between 0.5625-3.25mm. The mill serves light vehicle and heavy-duty truck markets. The newly acquired mill will be integrated with MacSteel and named as MacSteel Monroe. An official from Quanex stated that, through the acquisition, Quanex will present various high quality bar products to its customers as MacSteel's small diameter bars are ranging between 1-6mm.