History
Olympic Steel was founded in 1954 by Sol Siegal and Sam Sigel. Our business was originally focused on warehousing and distribution of steel from a single facility with no major processing equipment. Today, our enterprise has an enormously wider range, focused on growth, geographic and customer diversity, and the value-added processing of flat-rolled metals and pipe and tube.
Headquartered in Cleveland, Ohio, our company operates strategically positioned production facilities that effectively serve customers in most metal intensive industries. By being attentive to the principles of good business, we have succeeded in helping customers effectively compete in today’s marketplace. In fact, a significant portion of Olympic Steel’s business comes from organic growth with existing customers. Customers that know and trust us for service, quality, and comprehensive solutions.
Sol Siegal
1924 – 2013
While our company has grown and evolved significantly, one thing hasn’t changed. Olympic Steel has stayed true to our founders’ original vision of developing long-lasting relationships with our employees, our suppliers and our customers.
On May 23, 2013, we mourned the passing of our founder, Sol Siegal. Olympic Steel will continue to honor Mr. Siegal as a visionary leader and dedicated philanthropist by maintaining and expanding upon the high standards of business excellence and social responsibility that he embodied throughout his life.
Timeline
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1954
Founded:
Olympic Steel
Cleveland, OH -
1956
Expansion:
First Warehouse
Bedford Heights, OH -
1983
Expansion:
Southeastern Sales Office
Georgia
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-
1984
Michael Siegal is named president
-
1985
Expansion:
Philadelphia Sales Office
-
1987
Acquisition:
Viking Steel Company
Chicago, ILExpansion:
Cleveland, OH
-
1990
Acquisitions:
Juster Steel
Minneapolis, MN
and Eastern Steel & Metal
Milford, CT -
1992
Expansion:
Cleveland, OH
-
1994
Initial Public Stock Offering
Nasdaq: ZEUS -
1995
Expansion:
Minneapolis, MN
Acquisition:
Lafayette Steel
Detroit, MI -
1996
Secondary Public Stock Offering
-
1997
Expansion:
Bettendorf, IA
Acquisition:
Southeastern Metal Processing
Atlanta, GA -
1998
Expansion:
Chambersburg, PA
Acquisition:
JNT Precision Machining
Chambersburg, PA -
2006
Expansion:
Chambersburg, PA
Acquisition:
Siler City, NC
-
2007
Achieve $1B in Sales
-
2009
Expansions:
Chambersburg, PA and Dover, OH
-
2010
Acquisition:
Integrity Stainless
Streetsboro, OH -
2011
Expansions
Gary, IN, Mount Sterling, KY, and Monterrey Mexico
Third Temper Mill Commissioned -
2012
Expansions:
Streetsboro, OH
-
2013
Expansions:
Latrobe, PA and St. Paul, MN
-
2014
Market share of stainless steel eclipses 5% of U.S. market
Consolidated revenue surpasses $1.4B and sets a new company record -
2015
Expansion:
Atlanta, GA Butech Stretch Leveling CTL
-
2018
Acquisition:
Berlin Metals in Hammond, IN
Expansion:
Schaumburg facility SS Cut-to-length line
-
2019
Acquisition:
EZ Dumper in Chambersburg, PA
McCullough Industries in Kenton, OHExpansion:
Distribution Center in Hanceville, AL
-
2020
Acquisition:
Action Stainless & Alloys
Expansion:
Buford, GA
Olympic Steel