Prnewswire·2026-02-13 21:01Core Viewpoint - The merger between Ryerson Holding Corporation and Olympic Steel, Inc. has been successfully completed, enhancing Ryerson's position as the second-largest metals service center in North America and expected to generate approximately $120 million in annual synergies by early 2028 [1][2]. Company Overview - Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China, employing around 4,300 people across 106 locations [2]. - Olympic Steel is a prominent U.S. metals service center focused on the direct sale and value-added processing of various steel and metal products, operating from 53 facilities [2]. Merger Details - Ryerson will issue 1.7105 shares of its common stock for each share of Olympic Steel, resulting in former Olympic Steel shareholders holding approximately 37% of Ryerson [1]. - The merger is expected to enhance product diversity, service offerings, and customer experience, promising greater speed to market and a wider selection of products [1]. Leadership Changes - Eddie Lehner remains as CEO of Ryerson, while Richard T. Marabito, former CEO of Olympic Steel, has been appointed as President and COO of Ryerson [1]. - Other key appointments include Richard A. Manson as Senior Vice President of Finance and Andrew Greiff as Executive Vice President and President of Olympic Steel [1]. Synergy Expectations - The combined company anticipates achieving approximately $120 million in annual synergies through procurement, scale, efficiency gains, and optimization of its commercial portfolio [1]. - The company plans to report progress on synergy attainment on a quarterly basis [1]. Board Composition - Michael D. Siegal, former Executive Chairman of Olympic Steel's Board, has been appointed chairman of the Ryerson Board, which now includes three additional members from Olympic Steel [1].