Cargill currently operates seven flat-rolled steel service centers with over 245 employees, focusing on hot-rolled band, pickled and oiled, cold-rolled, and tin mill products.
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updated: 12/21/2009 8:45:24 AM
Cargill Purchases East Chicago Steel Facility
Minnesota-based Cargill has announced it is acquiring full ownership of a joint venture with Robinson Steel Co. Inc in East Chicago. Cargill is purchasing the cold-reduction lines at the facility. The deal is expected to close early next year. Cargill and Robinson formed the joint venture in 2007.
Source: Inside INdiana Business
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Press Release
Minneapolis, Minn & East Chicago, Ind. -- Cargill, a leading global trader, processor and distributor of iron and steel, has agreed with Robinson Steel to increase its investment in RPSŪ Sheet and Plate by purchasing Robinson Steel's cold-reduction lines in East Chicago, Ind., and Granite City, Ill. Cargill will take 100-percent ownership of Cargill Robinson LLC, a joint venture formed by Cargill and Robinson in 2007. The transaction is expected to be completed in the next 45 days. Robinson Steel will continue as an independent owner and operator of its RPSŪ Laser division, the market-leading, precision-cut steel parts supplier, with Cargill as its exclusive supplier of RPSŪ quality sheet-and-plate products. Terms were not disclosed.
"RPSŪ solidifies our premier position in the processing of hot-rolled steel bands into the highest quality sheet-and-plate products to meet our customers' needs, and it complements our broader investment in steel as a leading global trader, processor and distributor," said Mike Taylor, president of Cargill's steel service center business.
"Our expanded relationship with Cargill will allow Robinson's RPSŪ Laser to continue to integrate our unique value proposition with Cargill's global supply chain and risk management capabilities, accelerating our growth and geographic reach. It will clearly provide increased cost-effective value to our customer base," said Paul Labriola, president and chief executive officer of Robinson Steel.
Cargill currently operates seven flat-rolled steel service centers with over 245 employees, focusing on hot-rolled band, pickled and oiled, cold-rolled, and tin mill products. Locations include East Chicago, Ind.; Houston, Texas; Tulsa, Okla.; Panama City, Fla.; Loudon, Memphis and Nashville, Tenn.
Robinson Steel Co., Inc currently operates steel and laser-cutting facilities in Indiana, Illinois, Iowa, Missouri, and Alabama.
About Cargill
Cargill is an international provider of food, agricultural and risk management products and services. With 159,000 employees in 68 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed. For more information, visit http://www.cargill.com.
About Robinson Steel
Headquartered in East Chicago, Ind., Robinson Steel Co., Inc. is an innovative manufacturer and distributor of RPSŪ Laser Cut Parts and RPSŪ Sheet and Plate from 8 locations throughout North America. For more information, visit http://www.robinsonsteel.com.
Source: Cargill
