Corus sells US stockist to Japanese-owned Coilplus
UK-based steelmaker Corus has sold its interest in a US service centre to the Japanese-owned company Coilplus, Steel Business Briefing has established. Corus sold Rafferty-Brown Steel, a two-location service centre, to Coilplus, the New York-based joint venture of Mitsubishi International and Sojitz Corp of America, for an undetermined amount.
Executives of Coilplus, which has coil processing and service centre locations in Alabama, Illinois, Ohio and Pennsylvania, did not return SBB’s phone calls. But a published report says the company purchased Rafferty-Brown’s Waterbury, Connecticut, and Greensboro, North Carolina, plants because of their capabilities and as a way to enter new geographic markets.
"The North Carolina business offered us entry into a key market where we were not operating," a North Carolina newspaper quotes James Lehr, president of the company"s operations in Connecticut, North Carolina and Pennsylvania. "Connecticut has some processing capabilities that are unlike what we have elsewhere."
Both operations specialise in flat-rolled steel and have been owned by Corus and its predecessor companies since the mid-1970s. Corus has been selling off its US steelmaking and processing interests over the past few years.
Coilplus, in addition to carbon flat rolled products, stocks and processes electrical steel, stainless sheet and strip, tinplate and enamelling steels. Its locations have slitters, cut-to-length, blanking and painting lines.
Executives of Coilplus, which has coil processing and service centre locations in Alabama, Illinois, Ohio and Pennsylvania, did not return SBB’s phone calls. But a published report says the company purchased Rafferty-Brown’s Waterbury, Connecticut, and Greensboro, North Carolina, plants because of their capabilities and as a way to enter new geographic markets.
"The North Carolina business offered us entry into a key market where we were not operating," a North Carolina newspaper quotes James Lehr, president of the company"s operations in Connecticut, North Carolina and Pennsylvania. "Connecticut has some processing capabilities that are unlike what we have elsewhere."
Both operations specialise in flat-rolled steel and have been owned by Corus and its predecessor companies since the mid-1970s. Corus has been selling off its US steelmaking and processing interests over the past few years.
Coilplus, in addition to carbon flat rolled products, stocks and processes electrical steel, stainless sheet and strip, tinplate and enamelling steels. Its locations have slitters, cut-to-length, blanking and painting lines.