Olympic Steel, a national steel service center, will purchase a new temper mill and locate it at U.S. Steel's Gary Works plant in Gary, Indiana. The project represents a $25 million investment.
"We are thrilled to announce this strategic growth initiative and its prime location on the U.S. Steel Gary Works site. Once fully operational, the new equipment, depending on the steel processed, annually adds 150,000 to 180,000 new tons of high quality tempered sheet capacity for Olympic Steel. We look forward to operating a third temper mill facility to serve our customers in the Chicago market, allowing our existing Cleveland and Iowa temper mills to expand their respective sales territories," said Olympic Steel Chairman and CEO Michael D. Siegal.
Olympic Steel will house a Butech cut-to-length line, a four-high temper mill, and several pieces of plate burning equipment in the 150,000-square-foot facility. The company expects to open the site in the first half of 2012.