McDonald Steel Corporation acquires Cleveland Steel Corporation
McDonald Steel Corporation has acquired General Steel Corporation out of Cleveland, Ohio.
McDonald Steel Corporation, produces custom-engineered hot rolled shapes, while General Steel Corporation is a steel service center that specializes in processing steel plates.
General Steel Corporation will continue to operate as a stand alone enterprise under the same name in Cleveland.
The partnership will create opportunities for growth within both companies.
"We pursued this acquisition because General Steel's precision plate processing capabilities are a natural complement to our broad line of specialty hot rolled shapes," McDonald Steel president Jim Grasso said.
"We are enthusiastic about the opportunities for our company and its employees created by bringing these two outstanding organizations together." Jim LaMantia, President and owner of General Steel said.