Olympic Steel Inc. has officially announced its acquisition of Central Tube & Bar, based in Conway, Arkansas. In a press release, the company indicated that this all-cash purchase is anticipated to yield immediate benefits, although specific terms of the transaction have not been disclosed.
Central Tube & Bar operates from three facilities in Conway, Arkansas, and Tulsa, Oklahoma, collectively offering 162,000 square feet of warehouse and production space. Their core expertise lies in providing a wide array of value-added fabrication services, including tube laser cutting, tube bending, robotic welding, flat laser burning, and brake press forming.
The company serves various industries, including transportation, agriculture, commercial furniture, and data center construction, offering a diverse range of fabricated tube and bar products encompassing round, square, rectangular, and specially shaped tubes. Following the acquisition, Central Tube & Bar will continue its operations under the name "Central Tube & Bar, an Olympic Steel Company," with Dustin Ward taking the helm as President.
Richard T. Marabito, Chief Executive Officer of Olympic Steel, expressed enthusiasm for this strategic move, characterizing it as an investment in consistently high-performing businesses. He warmly welcomed Dustin Ward and his proficient team into the Olympic Steel family, citing the historical financial success of Central Tube & Bar and its excellent cultural alignment with Olympic Steel.
Andrew Greiff, President and Chief Operating Officer, noted the expansion of Olympic Steel's presence into burgeoning Mid-South markets and the broadening of value-added contract manufacturing capabilities through Central Tube & Bar. He highlighted the synergistic potential of integrating Central Tube & Bar into the tubular and pipe products segment, in addition to the existing achievements of Olympic Steel's Chicago Tube & Iron business.
Central Tube & Bar will be integrated into Olympic Steel's tubular and pipe products segment, led by William Zielinski, President of Chicago Tube & Iron.
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