Steel Technologies to expand Crawfordsville operations

Steel Technologies expanding operations in county

The Paper has learned that Steel Technologies LLC, a steel processing company, plans to expand its operations in Montgomery County, creating up to 21 new jobs by 2019.

According to the Indiana Economic Development Corporation, Louisville-based Steel Technologies will invest
$10.1 million to grow operations and broaden capabilities at its current 233,000-square-foot production facility at 3560 Nucor Rd. Expanding the building to cover a total of 314,600 square feet, this addition will allow Steel Technologies to increase its capacity and services to support the growth of current customers and the industry in the region. Construction on the company’s expansion has already begun and the facility is expected to be fully operational in the coming months.

According to the IEDC, Indiana Gov. Mike Pence was impressed with the move.

“In Indiana, companies like Steel Technologies continue to benefit from doing business in a state that works,” Pence said. “We are home to an affordable, low-tax business climate that ranks first in the Midwest and fifth overall, supporting job creators in every corner of the state. With locations across North America, Steel Technologies could have expanded anywhere, but they chose Indiana. We look forward to supporting the company’s continued growth and job creation in the Hoosier state.”

Montgomery County Commissioners vice president Phil Bane agreed.
“We always enjoy seeing our local businesses expand, and we’re excited to see Steel Technologies do so,” Bane said. “It’s great to see they’re making an investment in Montgomery County which both increases economic development, and builds on our current assets we have in the steel sector.”
According to the IEDC, there were incentives for Steel Technologies to expand here. IEDC offered Steel Technologies up to $100,000 in conditional tax credits based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the city of Crawfordsville will consider incentives at the request of the Indiana West Advantage, Montgomery County’s economic development organization.

Steel Technologies’ plant here in Montgomery County currently employs 67 people. However, the company has plans to hire more production help. Across the U.S., Canada and Mexico, Steel Technologies employs more than 1,850 people.

“We are dedicated to delivering more value to our customers. The added capabilities and increased capacity allows us to expand the services we bring to our growing customer base,” Mike Carroll, president and chief executive officer of Steel Technologies, told IEDC. “As a leader in advanced manufacturing, Indiana continues to offer Steel Technologies both a favorable business climate and a skilled workforce that supports our five facilities throughout the state.”

Indiana is the nation’s leading steel producer, making 23.2 million tons of steel in 2015. Today, more than
23,000 Hoosiers work in the industry and companies like Steel Technologies continue to find the workforce they need to expand in Indiana. The Hoosier state’s business climate ranks best in the Midwest and fifth in the nation, with a record number of 156,800 jobs added since 2013.

Steel Technologies Blanking addition to expanded Berkeley, SC operations

Steel Technologies Blanking addition to expanded Berkeley, SC operations

LOUISVILLE, Ky. (January 12, 2015) – Steel Technologies LLC (Steel Technologies) today announced the addition of a new blanking line to its expanded Berkeley, SC facility.

“We are dedicated to bringing more value to our customers and this expansion will allow our team to better serve our growing customer base in the growing southeast region,” said Bradley A. Goranson, Executive Vice President of Steel Technologies. “The additional equipment will double our production capacity and bring the facility to 255,000 square feet.

Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading steel processors in North America and leverages its broad geographic network of operations to deliver value-added products and services to customers. 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. Steel Technologies is owned as a 50-50 joint venture between Nucor Corporation, North America’s leading manufacturer of steel products, and Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. More information about Steel Technologies can be found at www.steeltechnologies.com.

Steel Technologies to expand Woodstock, Ontario operations

Steel Technologies to expand Woodstock, Ontario operations

LOUISVILLE, Ky. (January 12, 2015) – Steel Technologies LLC (Steel Technologies) today announced that it is expanding its Woodstock, Ontario Canada operation. As part of the expansion, the Company will add additional slitting equipment.

“We are dedicated to bringing more value to our customers and this expansion will allow our team to better serve our growing customer base in the Canadian market,” said Richard P. Furber, Executive Vice President of Operations of Steel Technologies. “The additional capacity complements our operation in Cambridge, Ontario.

Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading steel processors in North America and leverages its broad geographic network of operations to deliver value-added products and services to customers. 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. Steel Technologies is owned as a 50-50 joint venture between Nucor Corporation, North America’s leading manufacturer of steel products, and Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. More information about Steel Technologies can be found at www.steeltechnologies.com.

Steel Technologies expanding Ontario plant

Steel Technologies expanding Ontario plant

NEW YORK — Steel Technologies LLC is expanding its Woodstock, Ontario, plant to meet demand for lightweight materials like aluminum and advanced high-strength steel.

The Louisville, Ky.-based flat-rolled steel processor will receive a grant of more than Canadian $855,000 ($639,000) from the Southwestern Ontario Development Fund to install new equipment and add 64,000 square feet to its existing 80,000squarefoot facility.

The grant will only be disbursed if Steel Technologies meets job and investment targets, a spokesman from Ontario’s Ministry of Economic Development told AMM in an email. Construction on the expansion project has already begun, the spokesman said.

Steel Technologies will invest about C$8.5 million ($6.4 million) in the expansion, which is expected to be completed by the end of 2018.

The company intends to double the plant’s current production.

“The 64,000-square-foot expansion at the Woodstock facility will give us the footprint we require to install new equipment, allowing Steel Technologies to process advanced lightweight materials to meet growing demand,” Mark Gemin, vice president of STC Steel Technologies Canada Ltd., said in a statement.

Steel Technologies did not immediately return requests for further comment.

The expansion will bring with it 15 new jobs on top of the 75 current employees at the Woodstock facility.

Steel Technologies processes flat-rolled steel and other materials for the automotive, appliance, lawn and garden, agriculture, construction, office furniture, hardware and consumer goods industries.

The Woodstock facility offers precision slitting services, and distributes high-carbon and alloyed flat-rolled products.

Steel Technologies building second Tenn. plant

Steel Technologies building second Tenn. plant

NEW YORK — Steel Technologies LLC is building an $18-million flat-rolled steel and aluminum processing plant for automotive applications in Tennessee, its
second in the state.

Construction on the 83,000-square-foot facility in Smyrna, Tenn., will begin in the middle of the summer and be completed by the first quarter of 2017, according to the Tennessee Department of Economic and Community Development (ECD).

The plant will house a slitting line and a 1,000-ton blanking press operated by 50 new employees.

“This new greenfield operation expands our exposed and unexposed automotive slitting and blanking capabilities,” Steel Technologies vice president for operations
Randall Patterson said in a statement. The Smyrna facility will “handle both steel and aluminum as we continue to deliver greater value and services to our strategic customers in the area.”

The Louisville, Ky.-based steel processor already operates a facility in the same county, in Murfreesboro, with 87 employees.

“We appreciate Steel Technologies for choosing to expand its Rutherford County footprint and create new jobs for Tennessee,” ECD commissioner Randy Boyd said in
the statement.

The company could not be reached for further comment, and the ECD did not respond to a request for comment.

Steel Technologies—a processor of flat-rolled steel and other materials for the automotive, appliance, agriculture and construction industries—is also expanding its Woodstock, Ontario, plant to process lightweight materials like aluminum and advanced high-strength steel (amm.com, March 15).

Steel Technologies to expand operations in Celaya, Mexico

Steel Technologies to expand operations in Celaya, Mexico

LOUISVILLE, Ky. (June 28, 2016) – Steel Technologies LLC (Steel Technologies) today announced a new 112,000 square foot expansion to their Celaya, Mexico facility. Construction will begin immediately and is expected to be complete in late 2016. The $4.3 million project will expand the facility to 237,000 square feet and support automotive growth in the region.

“We are dedicated to bringing more value to our growing customer base in Central Mexico. This expansion gives us needed space for growth and additional value-add processing equipment planned for the near future,” said Carlos von Rossum F., Director General Steel Technologies Mexico. “The expansion supports our growth strategy and further complements our strong network of steel processing facilities within the country,” stated Michael J. Carroll, President and CEO of Steel Technologies.

Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading steel processors in North America and leverages its broad geographic network of operations to deliver value-added products and services to customers. 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. Steel Technologies is owned as a 50-50 joint venture between Nucor Corporation, North America’s leading manufacturer of steel products, and Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. More information about Steel Technologies can be found at www.steeltechnologies.com.

Steel Technologies to expand operations in Crawfordsville, Indiana

Steel Technologies to expand operations in Crawfordsville, Indiana

LOUISVILLE, Ky. (June 28, 2016) – Steel Technologies LLC (Steel Technologies) today announced an 84,100 square foot expansion to their Crawfordsville, IN facility. Construction will begin immediately and is expected to be fully operational early 2017. The $10.1 million expansion will include new exposed slitting and inspection capabilities and will offer customers supply chain and logistical advantages.

“We are dedicated to bringing more value and exceptional quality to our customers. The added capabilities and increased capacity allows our team greater flexibility to support our growing customer base,” said Michael J. Carroll, President and CEO of Steel Technologies.

Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading steel processors in North America and leverages its broad geographic network of operations to deliver value-added products and services to customers. 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. Steel Technologies is owned as a 50-50 joint venture between Nucor Corporation, North America’s leading manufacturer of steel products, and Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. More information about Steel Technologies can be found at www.steeltechnologies.com.

Mitsui USA to Form Joint Venture with Nucor Corporation

Mitsui USA to Form Joint Venture with Nucor Corporation
LOUISVILLE, Ky.–(BUSINESS WIRE)–Mar 03, 2010–

NEW YORK (MARCH 3, 2010) — Mitsui & Co. (U.S.A.), Inc. (“Mitsui”), a wholly owned subsidiary of Mitsui & Co., Ltd., today announced that it entered into a definitive agreement with Nucor Corporation (“Nucor”) to jointly form a new partnership that will serve as a platform to establish steel related projects both in North America as well as globally.

Mitsui and Nucor will each indirectly hold a 50% share in the new company to be named NuMit LLC (“NuMit”). As part of the agreement, Mitsui will contribute 100% of Louisville, Kentucky-based Steel Technologies Inc. (“Steel Technologies”) into NuMit, and then Nucor will acquire a 50% interest in NuMit. Mitsui intends to invest the proceeds of the transaction to further expand NuMit. Closing of the transaction will occur after satisfactory resolution of regulatory approvals and other closing conditions.

“Mitsui’s announcement today marks the next chapter in our growth and commitment to the North American steel industry,” commented Mr. Masaaki Fujita, President and CEO of Mitsui & Co. (U.S.A.), Inc. “Supported by Mitsui’s global steel expertise and Nucor’s manufacturing capabilities, NuMit will play an important role in implementing our North American and global business strategies and enhancing our upstream/downstream value chain. Through NuMit we will broaden and deepen our penetration in existing markets, while exploring expansion and growth opportunities through new business initiatives.”

NuMit will own 100% of the assets of Steel Technologies, of which Mitsui has been the sole shareholder since 2007. Steel Technologies operates 23 flat rolled steel processing facilities throughout the U.S., Canada and Mexico.

Steel Technologies will serve as the foundation for the newly established NuMit, and will remain as an independent operating unit with the current management team maintaining responsibility for the company’s performance. Steel Technologies will maintain its independent platform to best serve its customers with the most efficient supply chain. This independence will allow Steel Technologies to continue providing unsurpassed service, quality, logistics and value to the North American market place.

Through the joint venture, Mitsui will endeavor to enhance its position as one of the market leaders in the North American steel processing industry. As a first step, Steel Technologies will assume responsibility for Nucor’s previously announced plans to open a new greenfield flat rolled processing center in Monterrey, Mexico. The operation will install slitting and CTL capabilities, with the possible addition of pickling in the future, to serve the growing market demand in the region.

About Steel Technologies

Steel Technologies Inc., headquartered in Louisville, KY and a wholly owned subsidiary of Mitsui & Co. (U.S.A.), Inc., operates 23 steel processing facilities throughout the U.S., Canada and Mexico. It is a leading steel processor that leverages its broad geographic network of operations to deliver value added products and services to customers in a variety of industries. More information about the Company may be found at www.steeltechnologies.com.

About Nucor Corporation

Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and non ferrous scrap. Nucor is North America’s largest recycler.

About Mitsui & Co. (U.S.A.), Inc.

Mitsui & Co. (U.S.A.), Inc. is the largest wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. Mitsui has operations in iron and steel products and materials, infrastructure projects, machinery, information technology, chemicals, plastics and consumer products, among others.

For further information, please contact:

Mitsui & Co. (U.S.A.), Inc.

Public Affairs Center

Mr. Shinichi Hirabayashi

Phone: (212) 878-4072

S.Hirabayashi@mitsui.com

Note: This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui’s latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission. This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside Japan, regarding the shares, bonds or other securities issued by us.​

Steel Technologies Announces Management Transition

Steel Technologies Announces Management Transition

LOUISVILLE, Ky.–(BUSINESS WIRE)–Jun 09, 2010–STEEL TECHNOLOGIES ANNOUNCES MANAGEMENT TRANSITION
Current CEO will serve in advisory role

New CEO will be appointed at upcoming board meeting

Louisville, Ky. (June 8, 2010) – Steel Technologies LLC (“Steel Technologies” or the “company”) today announced that Bradford T. Ray, CEO, will resign and assume an advisory role as of July 1, 2010.

Brad joined the company in 1981 and has served in a number of leadership roles over the last 29 years, including CEO since 1999. Brad served on the Board of Directors since 1989 and was Chairman of the Board from 2002 through 2007. Prior to becoming CEO, Brad served as President and Chief Operating Officer from November 1994 to 1999. Previously he was Executive Vice President of the company from April 1993 to November 1994 and also served as Vice President Manufacturing of the company from January 1987 through April 1993.

Effective July 1, 2010, Michael J. Carroll will be appointed CEO and President, subject to the board approval on June 11, 2010. Mike is currently serving as President and COO, a position he has held since 1999. Mike started with the company in 1979 and was previously Executive Vice President, a position he held since 1995. Prior to this, he was Senior Vice President of Sales and served on the company’s Board of Directors from 1992 through 2010.

The company was founded by Brad’s father, Merwin J. Ray, in 1971 and has grown from a small single operation in Eminence, Ky. to a company with a significant North American presence as a leader in the steel processing sector. The company has grown to 23 locations, including 3 joint ventures, throughout the United States, Canada and Mexico, with $1.3 billion in revenue in 2009.

Brad and Mike have worked closely for 30 years during times of significant growth through both Greenfield expansion and acquisitions. The company anticipates a seamless transition.

Steel Technologies was a public company from 1985 through 2007 and traded on the NASDAQ prior to being purchased by Mitsui & Co. (U.S.A,), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a Japanese trading company.

In April 2010, Mitsui & Co. (U.S.A.), Inc. entered into a 50-50 joint venture with Nucor Corporation. As part of this venture, each company now indirectly holds 50% share in Steel Technologies.

Brad will assume an advisory position to the senior management and the Board of Managers of the company. The succession plan is scheduled to be adopted and approved by the Board at a meeting on June 11.

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. Steel Technologies has 23 locations including 3 joint venture operations, located throughout the United States, Canada and Mexico. More information about the company may be found at www.steeltechnologies.com.​

Steel Technologies Plans To Acquire Nupro Steel, LLC

Steel Technologies Plans To Acquire Nupro Steel, LLC

LOUISVILLE, Ky.–(BUSINESS WIRE)–Feb 17, 2011–LOUISVILLE, Ky. (February 16, 2011) – Steel Technologies LLC (Steel Technologies) today announced that it has signed a Memorandum of Understanding to acquire the business and certain assets of NuPro Steel, LLC (NuPro), a wholly owned subsidiary of Nucor Corporation (Nucor). Steel Technologies expects to complete the acquisition in April of this year, subject to the execution of a definitive purchase agreement.

NuPro is a flat-rolled steel processor and is located adjacent to Nucor’s facility in Crawfordsville, Indiana. This 230,000 square-foot operation will expand Steel Technologies’ North American platform to 24 facilities, including joint-venture operations, located throughout the U.S, Canada and Mexico.

“This facility is well equipped with a strong operating team and it strategically expands our Midwest footprint,” said Michael J. Carroll, President and CEO of Steel Technologies. “Currently focused on toll processing, we plan to broaden NuPro’s processing capabilities and end market focus.

”Steel Technologies, headquartered in Louisville, Kentucky, is one of the leading steel processors in North America, leveraging its broad geographic network of operations to deliver value-added products and services to customers. 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. Steel Technologies is owned as a 50-50 joint venture between Nucor Corporation, North America’s leading manufacturer of steel products, and Mitsui & Co. (U.S.A.), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd., a diversified global investment and service enterprise based in Tokyo, Japan. More information about Steel Technologies can be found at www.steeltechnologies.com​.​