Downstream growth paying off: Olympic

May 05, 2013 | 07:00 PM | Corinna Petry

Tags  Olympic Steel, David Wolfort, downstream processing capacity, new business wins, flat products, pipe and tube, pipe, tube downstream

CHICAGO — Metals service center operator Olympic Steel Inc. continues to grow its capacity and move further into downstream processing in spite of a slow-growing economy and tepid steel demand, executives said.

"We are evolving into more downstream pursuits, including fabrication and parts, specialty metals and other niche marketplaces," president and chief operating officer David Wolfort said during a May 3 earnings call.

For example, "we continued to expand our domestic market share of stainless steel, (and) we are expanding our participation in aluminum," Wolfort said. By doing so, Olympic has further penetrated the food service industry and commercial white goods sector, diversifying its portfolio, he said.....

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