The Cascade Township-based distributor of flat-rolled carbon steel on Tuesday finalized the purchase of the commercial assets of Prassas Metal Products, a Gardena, California-based steel trading and stocking distributor of prepainted and coated coil products.
Terms of the deal were not disclosed.
Mill Steel said the transaction strengthens its geographic footprint with additional sourcing opportunities and greater reach in the southeastern U.S.
“When favorable opportunities such as this present, our aggressive acquisition strategy allows us to transact quickly to the benefit of our customers,” said Pam Heglund, Mill Steel president and chair.
Mill Steel will immediately assume steel processing and supply for PMP’s construction industry customers in southeastern, mid-south and western U.S. The company said the transition will be “seamless,” as Mill Steel will uphold existing contracts.
“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 a consulting role with Mill Steel as the business assets are integrated.
“Mill Steel congratulates Prassas on the close of a successful 42-year steel industry career,” 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 center locations across the U.S.