ThyssenKrupp Materials NA acquires OnlineMetals.com
ThyssenKrupp Materials NA, Inc. announced today that it has acquired the assets of OnlineMetals.com of Seattle, Washington, a web-based retailer of metals and plastics. The purchase includes all inventories, equipment, and assumption of the lease.
OnlineMetals.com will be integrated into the ThyssenKrupp Materials NA distribution operations as a separate business unit focused on online processing of small and single-item orders and thus will complement ThyssenKrupp Materials' existing high-volume commercial distribution model and significantly widen its customer base to include low-volume commercial customers and individual consumers.
ThyssenKrupp Materials NA will retain all of the key operational and management personnel of OnlineMetals.com, including John K. Byrum, President and prior owner of OnlineMetals.com. Byrum will report to a newly appointed management board for the new on-line unit headed by the ThyssenKrupp Materials NA President and Chief Operating Officer Richard J. Greaves.
Commenting on the purchase, Richard J. Greaves, President and COO of ThyssenKrupp Materials NA said: "This acquisition provides ThyssenKrupp Materials NA with an entry into the web-based metals and plastics distribution market. The excellent opportunities for growth and integration align with our long-term strategic objective of complete penetration of all materials distribution market segments. We're looking forward to working closely with the OnlineMetals.com customers and employees on further expanding and growing our business in the future."
Vern A. Ginunas, Executive Vice President, Copper and Brass Sales Division and member of the OnlineMetals.com management board said: "The small-order web-based platform developed by OnlineMetals.com will significantly enhance our materials distribution capabilities, by presenting us with a new, efficient channel for management of small orders. Their highly successful low-cost business model contains great potential for expansion of our retail-based operations."
OnlineMetals.com President John K. Byrum also noted: "We believe that the acquisition will significantly improve our growth potential and will generate new opportunities and resources which will allow us to offer our customers a superior range of products and services, including new sizes and alloys, with the backing of a global industry leader."
OnlineMetals.com (www.onlinemetals.com) is an established online metals and plastics distributor. Located in Seattle, Washington, the company ships internationally, with a broad customer base in North America, as well as Europe, Asia, Latin America and Australia. OnlineMetals.com offers a full range of metals and plastics including stainless, aluminum, copper, brass, titanium, tool steel, special alloys, carbon steel, composite products and industrial plastics. All materials can be ordered in standard precut shapes and sizes or cut to length according to the exact customer specifications. The OnlineMetals.com website offers users an interactive product search experience, with instant pricing and same day delivery available for all in-stock materials.
ThyssenKrupp Materials NA, Inc., headquartered in Southfield, Michigan, is a leading provider of production materials and integrated service solutions with over 2,900 employees and 80 locations in North America. With annual sales in excess of US$3.1 billion, the company is focused on value-added processing and distribution of a full line of aluminum, stainless, copper, brass, specialty metals, steel, and plastics products. Supply chain management, transportation and logistics, and production support outsourcing solutions are among the many services provided to customers. Divisions include Copper and Brass Sales, Ken-Mac Metals, ThyssenKrupp Steel Services Trading, ThyssenKrupp Steel Services Distribution, AIN Plastics, TKX Logistics, TMX Aerospace, and ThyssenKrupp Hearn. ThyssenKrupp Materials NA is part of the ThyssenKrupp Services business segment of the ThyssenKrupp AG global group of companies.
top