Castle sells Metal Express subsidiary for $6.7 million
Oct 03, 2007 | 11:01 AM
| Philip Burgert
A.M. Castle & Co., Franklin Park, Ill., has sold its Metal Mart LLC subsidiary, which has 15 locations doing small-order business as Metal Express, to a unit of Metal Supermarkets Corp., Mississauga, Ontario, for around $6.7 million.
Metal Express was founded in 1981 as a mail order metal business in Chicago and later moved to Hartland, Wis. It became a joint venture of Castle in 1997 before converting to wholly owned status in 2002. Last year, the subsidiary had revenue of $16.6 million, Castle executives said.....
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