Our Story: A History of Success
Founded in 1971 by Merwin J. Ray, our 1st plant was located in Eminence, KY. Mr. Ray was a growth-oriented, visionary entrepreneur and his drive still permeates throughout the organization today. We continue to expand through Greenfields, strategic acquisitions and partnerships and have built a broad North American processing footprint. Steel Technologies is one of the largest Steel and Aluminum processors in North America. We traded on NASDAQ for 22 years prior to becoming a wholly owned subsidiary of Mitsui & Co. (USA), Inc. in 2007. In 2010, Mitsui formed a joint venture with Nucor Corporation (NuMitt) which now owns 100% of the Company. Steel Technologies operates as an independent business and has continued to expand and thrive under our new ownership.
Founded as Southern Strip Steel by Merwin J. Ray in Eminence, KY and opens an 8,000 sq. ft. Greenfield facility.
Southern Strip Steel acquires Miller Steel in Kokomo, IN.
Kokomo operations relocated to Greenfield facility in Peru, IN.
Southern Strip Steel enters the State of Michigan, establishing a facility in Madison Heights, MI.
Southern Strip Steel successfully completes IPO and changes name to Steel Technologies.
Mi-Tech Steel, a Steel Technologies/Mitsui & Co. partnership is founded.
Steel Technologies opens new Greenfield facility in Portage, IN. Mi-Tech Steel opens new Greenfield facility in Murfreesboro, TN.
Mi-Tech Steel opens new Greenfield facility in Greensburg, IN
Steel Technologies opens new Greenfield facility in Canton, MI.
Steel Technologies acquires 80% of Aceros Y Maquilas TYCOME, SA de CV., a steel processor in Monterrey, Mexico.
Steel Technologies opens new Greenfield facility in Ghent, KY.
Steel Technologies completes acquisition of Atlantic Coil Processing in Clinton, NC. Mi-Tech Steel opens new Greenfield facility in Decatur, AL.
Steel Technologies acquires Roberts Steel in Cleveland, OH.
Steel Technologies opens new Greenfield facility in Berkeley, SC.
Steel Technologies opens new Greenfield facility in Matamoros, Mexico.
Mi-Tech Steel opens new Greenfield facility in Madison, MS.
Steel Technologies acquires assets of Cold Metal Products in Ottawa, OH. Steel Technologies exceeds $500M in sales.
Steel Technologies expands its Eminence, KY facility.
Steel Technologies expands its Canton, MI facility.
Steel Technologies completes the acquisition of Kasle Steel Corporation and becomes a leader in exposed blanking for the U.S. automotive industry.
Steel Technologies acquires MASCI in Cambridge, ON. Opens new Greenfield facility in Juarez, Mexico. Steel Technologies is merged with Mitsui & Co. (USA), Inc., a wholly owned subsidiary of Mitsui & Co., Ltd.
Steel Technologies exceeds $1B in sales. and opens new Greenfield facility in Woodstock, ON. Mi-Tech Steel’s 5 locations are merged and consolidated into Steel Technologies’ NA Platform. Steel Technologies merges and consolidates MSI (Mitsui Steel, Inc.).
Steel Technologies’ parent company, Mitsui & Company (USA) Inc. and Nucor Corporation form “Nu-Mit”, a 50/50 joint venture, which now owns 100% of Steel Technologies.
Steel Technologies acquires NuPro – Crawfordsville in Crawfordsville, IN.
Steel Technologies exceeds $2B in sales. Opens new Greenfield facility in Celaya, Mexico and begins slitting in the strategic Bajio region and expands their Berkeley, SC facility.
Steel Technologies opens new Greenfield facility in Pesqueria, Mexico with the latest EPS green pickling technology. Installed heavy and light gauge Red Bud slitting and multi-blanking line.
Steel Technologies completes acquisition of Stripco – Mishawaka, IN.
Steel Technologies upgrades and widens its reversing mill in Canton, MI improving efficiency, quality and increasing capacity. Expands its Ottawa, OH facility.
Steel Technologies expands its Woodstock, ON facility and announces new Greenfield facility in Smyrna, TN. Expands its Crawfordsville, IN facility and announces an expansion to its Celaya, MX facility.
Steel Technologies expands its Smyrna, TN laser blanking operation.