A subsidiary of McDonald Steel Corporation Completes Acquisition of General Steel Corporation.

Oct 27, 2022
For Immediate Release
Wednesday, October 26, 2022

Contact: Jim Grasso, 330-530-9118

Subsidiary of McDonald Steel Corporation Completes Acquisition of General Steel Corporation. Partnership Creates Opportunities for Growth for Both Companies.

McDonald Steel Corporation, McDonald, Ohio, a producer of custom-engineered hot rolled shapes, and General Steel Corporation, Cleveland, Ohio, a steel service center specializing in the processing of steel plate, announce the acquisition of the assets of General Steel by Mac Steel GSC, Inc., a wholly-owned subsidiary of McDonald Steel Corporation. General Steel Corporation will continue to operate as a stand-alone enterprise in Cleveland.

“We pursued this acquisition because General Steel’s precision plate processing capabilities are a natural complement to our broad line of specialty hot rolled shapes,” McDonald Steel president Jim Grasso said. “Our partnership will enable us to more fully serve our current customers, particularly those related to rail transportation and infrastructure reinvestment, and will pave the way for increased penetration of the construction and agriculture markets.”

“In addition to the important marketing considerations, the acquisition of General Steel represents a significant step in the long-planned diversification of our production capabilities”, added Bill Bresnahan, Chairman and CEO of McDonald.

“We are enthusiastic about the opportunities for our company and its employees created by bringing these two outstanding organizations together.” Jim LaMantia, President and owner of General Steel said, “Our teams are highly professional and widely respected, and I believe that will give us a real advantage in the steel processing industry going forward.”

Financing for the acquisition was provided by Huntington Bank’s Commercial Banking Group in Youngstown, Ohio.\

For more information please contact Jim Grasso at 330-530-9118.

About McDonald Steel

Based in McDonald, Ohio, McDonald Steel Corporation was founded in 1981 by a group of local investors who saw opportunity in the recently shuttered McDonald Works of U. S. Steel. Over the past 41 years, the management and employees of McDonald have expanded its product offerings to over 500 symmetrical and asymmetrical hot rolled shapes. These shapes are used in the production of bridge decking and expansion joints, wheels for both on- and off-road applications, automotive door hinges, spigot sections, and a number of applications in the rail and railcar industry. Of particular note is McDonald’s movement into the production of finished rail joint bars, 100% Made in the USA, which meet or exceed all AREMA standards.

McDonald is represented on the Board of Directors of the Steel Manufacturers Association (SMA) and is a member of the Bridge Grid Flooring Manufacturing Association (BGFMA) and the American Short Line and Regional Railroad Association (ASLRRA).

About General Steel
General Steel is headquartered in Cleveland, Ohio, and specializes in flame and plasma cutting of steel plate. The company performs complex processing in-house, on state-of-the-art highdefinition plasma and oxy-fuel burning machines, as well as other ancillary services including beveling, heat treating, forming, shot blasting, grinding, and milling. All sales, engineering, production, and purchasing functions are performed on site in Cleveland.
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