Optima Specialty Steel Inc. entered into a definitive merger agreement with Niagara LaSalle Corp. to acquire 100% of the company. Niagara LaSalle is a specialty steel processor and North America’s largest independent manufacturer of high-quality engineered cold-finished steel bars. As a result of the merger, Niagara LaSalle will become a significant part of Optima Specialty Steel along with Optima Specialty Steel’s wholly owned subsidiary Michigan Seamless Tube.            

Michigan Seamless Tube is a specialty steel processor and leading independent manufacturer of value-added precision-tolerance, cold-drawn seamless tubes. The transaction is expected to close in 2011. Kevin Stevick, CEO and president of Niagara LaSalle, will become CEO of Optima Specialty Steel.