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Metal-Fab Sales Floor (Courtesy: Metal-Fab)
Metal-Fab Sales Floor (Courtesy: Metal-Fab)
WICHITA, Kan. (KSNW) — Wichita company Metal-Fab Inc. has been purchased by Cleveland, Ohio-Based Olympic Steel, Inc.
Metal-Fab, founded in 1958, manufactures venting for HVAC, hearth, and plumbing systems for both commercial and residential construction. The company will continue to operate as Metal-Fab, with current leadership remaining in place, according to a release from Olympic Steel.
“We are thrilled to welcome the Metal-Fab team to Olympic Steel, as we continue to deliver on our strategy to diversify and grow in higher-return products and services that are expected to reduce earnings volatility and increase sales and profit returns,” said Richard T. Marabito, Chief Executive Officer. “Metal-Fab’s consistent earnings model has proven recession-resistant and is a perfect strategic fit for Olympic Steel. Metal-Fab’s manufacturing expertise and catalog of products are an excellent complement to our growing portfolio of metal-intensive end-use products. We are excited to broaden our product offerings, manufacturing capabilities, and geographic reach with this acquisition.”
Founded in 1954, Olympic Steel operates 44 facilities in North America. They produce processed carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminum, tin plate, and metal-intensive branded products. The Company’s CTI subsidiary distributes steel tubing, bar, pipe, valves, fittings, and fabricates other parts and components.
For more about Metal-Fab, click here. For more about Olympic Steel, click here.
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