CHICAGO, June 1, 2022 /PRNewswire/
-- Ryerson Holding Corporation (NYSE: RYI), a leading
value-added processor and distributor of industrial metals, announced today its
acquisition of Ford Tool Steels ("FTS"), a tool steel processor based
out of St. Louis, Missouri.
FTS
has been in business for over 75 years, serving customers across the Midwest
United States with tool steel and alloys, as well as cut-to-length sawing,
plate sawing, and grinding and milling services. FTS's sawing and machining
capabilities are aligned with those of Southern Tool Steel, a member of the
Ryerson Family of Companies acquired in 2015. This strategic acquisition
presents an opportunity to recognize synergies between the two brands as
Ryerson expands its tool steel franchise.
"The
FTS commitment to quality and service is well aligned with Ryerson's focus on
providing excellent customer experiences," said South Region
President Eric McGill. "We welcome FTS
to the Ryerson Family of Companies and look forward to continued growth as we
work to better serve tool steel customers across our business."
"Ford
Tool Steel is excited to align with a 180-year-old leader in metals
distribution," said Susan Gasser, owner
of Ford Tool Steel. "Joining the Ryerson Family of Companies will help us
continue to bring value for our customers for years to come."