NEW YORK Olympic Steel
Inc. plans to expand the St. Paul, Minn., facility of its
Chicago Tube & Iron Co. (CTI) subsidiary this year.
"To allow for continued growth,
we will be enlarging and enhancing that location," chairman and
chief executive officer Michael Siegal said during the
companys fourth-quarter earnings conference call.
He noted that the expansion to
130,000 square feet from 90,000 square feet will provide
additional crank capacity and better throughput
The expansion comes as the
companys tubular and pipe products segment contributed to
better margins for the Bedford Heights, Ohio-based metal
service center quarter over quarter, chief financial officer
Rick Marabito said.
Olympic completed its acquisition of CTI in summer 2011 (
amm.com, July 5, 2011).