Optima Specialty Steel to Acquire Kentucky Electric Steel
Optima Specialty Steel entered into a definitive merger agreement with ALJ Regional Holdings Inc. to acquire 100% of Kentucky Electric Steel (KES). KES is a value-added manufacturer of special-bar-quality and merchant-bar-quality flat steel products. KES has been a supplier to Optima Specialty Steel and contributes to Optima Specialty Steel’s long-term strategy alongside its current wholly owned subsidiaries, Niagara LaSalle Corp. and Michigan Seamless Tube (MST). Niagara LaSalle is a specialty-steel processor and manufacturer of high-quality engineered cold-finished steel bars. MST is a specialty-steel processor and manufacturer of value-added precision-tolerance, cold-drawn seamless tubes.