Olympic Steel Cleveland Center Nears Integration with Ryerson After Shareholder‑Approved Merger

Cleveland Steel Service Center Nears Integration with Ryerson

Merger to Expand Processing and Service Footprint

Olympic Steel is moving toward full operational integration with Ryerson after shareholders of both companies approve a merger that is set to close on Feb. 13, 2026, subject to customary closing conditions. The deal merges Cleveland-based Olympic, a metals service center focused on direct sales and value‑added processing, into Ryerson’s larger platform, creating a combined operator with enhanced processing capabilities across North America. Management says the combination is intended to broaden product offerings and improve competitiveness and service for industrial customers.

The strategic rationale centres on scale and complementary capabilities. Olympic Steel brings depth in carbon and coated sheet, plate and coil steel, stainless products, aluminum, pipe and tube, and metal‑intensive fabricated items such as bollards, venting systems and self‑dumping hoppers; Ryerson contributes a broad distribution footprint and value‑added processing across 106 locations and a larger geographic network. The companies are positioning the merged business to offer broader inventory, more localized processing and faster order fulfilment for manufacturers, construction firms and other steel-consuming industries that value quick-turn metal processing.

Management also emphasises operational synergies and expanded service reach rather than financial engineering. Combined operations aim to leverage routing, processing lines and sales channels to reduce lead times and improve utilization of processing assets. The merger is framed as a response to customer demand for integrated supply chains and single-point access to multi-material processing, which is increasingly important as industries pressure suppliers for faster delivery and more complex value‑added services.

Olympic Steel shareholders will receive 1.7105 shares of Ryerson common stock for each Olympic share under the agreement, and Olympic Steel common shares are scheduled to cease trading and be delisted from Nasdaq upon closing. The companies will continue to operate their facilities through the transition while working to align back‑office and operational systems.

Both firms caution that forward‑looking statements about expected benefits, synergies and timing are subject to risks and uncertainties, and the transaction remains contingent on satisfaction of remaining closing conditions. Investors previously approved the issuance of Ryerson stock required to effect the merger at their special meetings.