Mill Steel Co. expands its painted and coated steel business through the acquisition of Prassas Metal Products.
The Cascade Township-based flat-rolled carbon steel distributor finalized on Tuesday the purchase of the business assets of Prassas Metal Products, a Gardena, Calif.-Based steel and steel storage distributor of products in prepainted and coated coils.
Terms of the contract are not disclosed.
Mill Steel said the transaction strengthens its geographic footprint with additional sourcing opportunities and greater reach in the Southeastern United States.
“When favorable opportunities like this present themselves, our aggressive acquisition strategy allows us to transact quickly for the benefit of our clients,” said Pam Heglund, president and president of Mill Steel.
Mill Steel will immediately assume the processing and supply of steel for PMP’s construction industry customers in the Southeast, South Central and Western United States.
“I appreciate the smooth transition and Mill Steel’s commitment to customer service,” said Jim Prassas, CEO of Prassas Metal Products, who will take on an advisory role with Mill Steel as it progresses. integration of business assets.
“Mill Steel congratulates Prassas on the end of a successful 42 year career in the steel industry,” the company said.
Mill Steel Co.
Founded in 1959 by Harry Samrick, Mill Steel Co. is a flat-rolled steel supplier that operates five service centers across the United States.