|Traded as||NASDAQ: ZEUS
S&P 600 Component
|Founder||Sol and Morris Siegal
and Sam Siegal
|Headquarters||Cleveland, Ohio, United States|
|Michael Siegal (CEO, Chairman)
David Wolfort (President)
Rick Marabito (CFO)
|Revenue||US$670 million (2016)|
|-US$4 million (2016)|
|-US$1 million (2016)|
|Total assets||US$556 million (2016)|
|Total equity||US$253 million (2016)|
Number of employees
Olympic Steel, Inc. engages in the processing and distribution of processed carbon, coated and stainless flat-rolled sheet, and coil and plate steel products primarily in the United States. The company owns 17 facilities throughout the eastern-half of the United States and 1 in Mexico.
Its services include cutting-to-length, slitting, and shearing. It also offers value-added processes such as blanking, tempering, plate burning, precision machining, welding, and fabricating and painting to process steel to specified lengths, widths, and shapes. It also owns two subsidiaries, Chicago Tube and Iron and Integrity Stainless.
Olympic Steel was founded in 1954 by brothers Sol and Morris Siegal and Sam Sigel. Initially, it was a metals trading company and owned no facilities.
In 1956, it opened an 11,000-square-foot (1,000 m2) facility in Bedford Heights, Ohio. By 1966, the facility had grown to 35,000 square feet (3,300 m2). The company offered multiple flat-rolled steel products, including coil and plate products.
In 1975, Michael Siegal, son of Sol Siegal, joined the company. The next year, the facility was again expanded to 56,000 square feet (5,200 m2). By 1985, the company had founded a Southern sales office in Georgia and another office in Pennsylvania. Michael Siegal bought out his father's share of the company in 1984 and David Wolfort joined the company as General Manager.
In 1987, Olympic acquired Viking Steel Company, based in Elk Grove Village, Illinois.
In 1988, the Philadelphia Division was formed by moving the Eastern sales office to a full warehouse facility in Lester, Pennsylvania.
In 1997, the company acquired Southeastern Metal Processing for $11.5 million in cash and the assumption of $5.8 million in liabilities.
In 2013, the founder, Sol Siegal, died.
- Olympic Steel, Inc. 2016 Form 10-K Annual Report
- Olympic Steel: Locations
- Olympic Steel: History
- "Olympic Steel Announces Resignation of Chief Financial Officer" (Press release). PRNewswire. March 16, 2000.
- "Olympic Steel, Inc. Acquires Southeastern Metal Processing, Inc." (Press release). PRNewswire. June 2, 1997.
- Olympic Steel 1997 Form 10-K Annual Report
- "Olympic Steel Acquires Machine Shop Operation and Plans to Construct a New Facility in Pennsylvania" (Press release). PRNewswire. June 29, 1998.
- "Olympic Steel, Inc. Completes Acquisition of Tinsley Group - PS&W, Inc." (Press release). PRNewswire. June 5, 2006.
- Roger Mezger (July 2, 2008). "Olympic plans steel processing center in Dover". Cleveland Plain Dealer.
- "Olympic Steel, Inc. Announces New Processing Facility in Sumter, South Carolina" (Press release). Business Wire. April 18, 2008.
- "Olympic Steel Announces Passing of Founder and Chairman Emeritus Sol Siegal" (Press release). Globe Newswire. May 31, 2013.