Effective July 1, 2010, Michael J. Carroll will be appointed President and CEO, subject to the board approval on June 11, 2010. Mike is currently serving as President and COO, a position he has held since 1999.
Since its inception, Steel Technologies has grown to 23 locations, including 3 joint ventures, throughout the United States, Canada and Mexico, with $1.3 billion in revenue in 2009.
Steel Technologies was a public company from 1985 through 2007 and traded on the NASDAQ prior to being purchased by Mitsui & Co. (USA), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a Japanese trading company.
In April 2010, Mitsui & Co. (USA), Inc. entered into a 50-50 joint venture with Nucor Corporation. As part of this venture, each company now indirectly holds 50 percent share in Steel Technologies.
Steel Technologies processes flat rolled steel to specific thickness, width, temper, finish and shape requirements for the automotive, appliance, lawn and garden, agriculture, construction, office furniture, hardware and consumer goods industries.