Olympic Steel Announces Sale of Detroit Assets and Operations

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Sep 17, 2021

Olympic Steel, Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced the sale of substantially all of the Company’s Detroit assets and operations to Venture Steel Inc. The sale price, which exceeded the book value of the net assets sold, was $58.4 million in cash, subject to a future working capital adjustment, which is expected to increase the final sale price.