Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

Olympic Steel Completes Acquisition of Tinsley Group

Jun 6 2006

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Olympic Steel, Inc., a national steel service center, reported today that on June 2, 2006, it completed the purchase of Tinsley Group - PS&W, Inc. ("PS&W"), an indirect subsidiary of Eliza Tinsley Group PLC, an English company, pursuant to a purchase of all of its shares of outstanding capital stock.

PS&W is a full service fabricating company that utilizes burning, forming, machining, and painting equipment to produce a wide variety of fabrications for large original equipment manufacturers of heavy construction equipment. PS&W was founded in 1990, and currently operates two facilities located in Siler City and Seagrove, North Carolina. The purchase price for the acquisition of the stock of PS&W was $10,080,000 in cash, subject to a post-closing net working capital adjustment.

http://www.olysteel.com

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