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
Optima Specialty Steel to Acquire Niagara LaSalle
November 29, 2011