July 18, 2011
Olympic Steel Inc., Cleveland, and Chicago Tube and Iron Co. (CTI), Romeoville, Ill., have completed their previously announced merger transaction, with Olympic acquiring all of the outstanding shares of CTI.
Donald R. McNeeley, Ph.D., will continue as president and CEO of CTI following the retirement of Robert B. Haigh.
Founded in 1914, CTI distributes steel tubing, bar, pipe, valves, and fittings and fabricates pressure parts for the electric utility industry. It operates more than 1 million sq. ft. of warehouse and processing space across the Midwest and in North Carolina.
Founded in 1954, Olympic Steel is a metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated, aluminum, and stainless steel flat-rolled sheet, coil, and plate products.