Mill Steel Co. Expands Painted and Coated Steel Business Through Commercial Acquisition of Prassas Metal Products

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Mar 23, 2021, 11:14 ET

GRAND RAPIDS, Mich., March 23, 2021 /PRNewswire/ -- Mill Steel Co., one of the nation's largest distributors of flat-rolled carbon steel purchased commercial assets of Prassas Metal Products, a Los Angeles based steel trading and stocking distributor of pre-painted and coated coil products with a reputable 30-year track record. Terms of the business transaction that finalized today were not disclosed.

This deal is characteristic of Mill Steel, which maintains a consistent track record of double-digit growth. It strengthens its geographic footprint with additional sourcing opportunities and greater reach in the Southeastern United States.

"When favorable opportunities such as this present, our aggressive acquisition strategy allows us to transact quickly to the benefit of our customers," said Mill Steel President and Chairman Pam Heglund.

Mill Steel will immediately assume steel processing and supply for PMP's broad array of construction industry customers in the Southeastern, Mid-South and Western United States. The transition will be seamless as Mill Steel will uphold existing contracts and leverage its 60 plus years of steel processing expertise to provide exemplary service.

"I appreciate the smooth transition and Mill Steel's commitment to customer service," noted Prassas Metal Products CEO Jim Prassas.

Mill Steel congratulates Prassas on the close of a successful 42-year steel industry career. He will take on a consulting role with Mill Steel as the business assets are integrated.

About Mill Steel Co.:
Founded in 1959 by Harry Samrick, Mill Steel Co. is one of North America's premier flat-rolled steel suppliers. Headquartered in Grand Rapids, MI, Mill Steel operates five service center locations across the United States. Mill Steel excels at serving some of the world's most demanding industries with its steadfast dedication to superior quality, delivery and performance. The company continues to grow by consistently operating with integrity, putting its customers and associates first, a value driven mindset instilled by its former CEO and Chairman and Pam Heglund's uncle, David Samrick. Visit www.millsteel.com to see why Mill Steel consistently ranks among the Nation's Top Metal Service Centers.

SOURCE Mill Steel Co.