Ryerson Holding Corporation, a leading processor and distributor of metals, announced Monday that it acquired Fay Industries, Inc., a privately-owned metals service center company located in Strongsville, Ohio. The acquisition further strengthens Ryerson's long products and saw cutting processing capabilities, and its ability to serve industries including heavy equipment, mining, oil and gas, and industrial maintenance and repair.
Fay Industries employs around 65 employees in one location and has annual revenue of approximately $30 million.
"Fay Industries brings extensive experience in bar and tube processing to Ryerson and advances our strategic focus on value-added customer services," said Mike Arnold, Ryerson's president and chief executive officer.
The acquisition of Fay Industries is part of Ryerson's broader strategy to expand its long and plate product offerings, processing services and geographic reach.