Stainless Steel World Magazine September 2024 | Page 59

[ Industry Update ]

[ Industry Update ]

Ryerson acquires Production Metals
Metals has a reputation for service that aligns with Ryerson ’ s commitment to providing great customer experiences , and their precision cutting capabilities add to our value-added business . Craig and his team at Production Metals have proven over the past five-plus years that creative entrepreneurship is alive and thriving in our industry , and we look forward to seeing that vision through to its fullest potential .”
Rathi Steel secures major order
Ryerson Holding Corporation ( NYSE : RYI ), a value-added processor and distributor of industrial metals has acquired Production Metals , LLC ( Production Metals ), a distributor of aluminum , stainless , and specialty steels . Based in Monroe , Connecticut , Production Metals serves New England and the surrounding area with bar , tube , sheet , and plate products along with precision sawing , lasering , and water jet cutting . “ On behalf of all Ryerson Stakeholders , we could not be more excited in welcoming Production Metals to the Ryerson Family of Companies , as we have here the opportunity to bolster our value-added aluminum , stainless , and specialty steel offerings in the Northeastern United States and throughout the entire Ryerson network of service centers ,” said Eddie Lehner , Ryerson ’ s President and Chief Executive Officer . “ In addition to serving the aerospace , defense , and semiconductor end markets , Production
Rathi Steel has secured an order to supply stainless steel products to Bansal Wire Industries . The total worth of the project is approximately INR 7.8 crore . Recently , the company ’ s steel melting unit in Ghaziabad was declared a Pioneer Unit under the “ Industrial and Service Sector Investment Policy 2004 ” by the Government of Uttar Pradesh .

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