Macsteel Service Centers USA Acquires Steel Coil Services from U. S. Steel

NEWPORT BEACH, Calif., Feb. 28, 2011 /PRNewswire/ -- Macsteel Service Centers USA is pleased to announce the acquisition of the assets and business of Steel Coil Services in Catoosa, Oklahoma, a subsidiary of United States Steel Corporation (NYSE: X).

Michael Hoffman, President & CEO, Macsteel Service Centers USA said, "We are excited at the prospect of adding to our presence in the area by way of increasing our flat product processing capability. The management and employees of Steel Coil Services will be a welcome addition to our team, adding a new dimension in processing capability.  It is also gratifying to expand our relationship with U. S. Steel by continuing to provide services to our mutually esteemed customers in the region."

About Macsteel:

Macsteel Service Centers USA is one of the top companies in the North American metals Service Center Industry. The company has a network of 30 locations, which includes the former Edgcomb Metals, Regal Steel Company, Baldwin Steel, Ferro Union, Hokin Katz and Alpha Steel, all of which now operate as Macsteel Service Centers USA. Macsteel Service Centers USA processes and distributes carbon stainless, aluminum and specialty metals to customers throughout North America, Hawaii and Puerto Rico.

Products include a full range of flat rolled, plate, tubing, pipe, bar and structural steel with 2010 sales of approximately USD 1.3bn and 1.183 employees. The company also supplies a full range of steel building products as well as coated and prepainted metals. Macsteel Service Centers USA is headquartered in Newport Beach, CA and is owned by Macsteel Global B.V., a Macsteel Holdings Group Company which itself manages volumes of some 45mt annually.

The Boards of Klockner & Co SE and Macsteel Global B.V. announced on January 19, 2011 that a Memorandum of Understanding (MOU) has been signed for the acquisition of Macsteel Service Centers USA ("MSCUSA") by a US subsidiary of Klockner & Co SE (Klockner USA Holdings).

SOURCE Macsteel Service Centers USA