Olympic Steel, Inc. Announces Management Changes


August 01, 2011 12:00 AM Eastern Time
CLEVELAND, Aug. 1, 2011 (GLOBE NEWSWIRE) — Olympic Steel, Inc. (Nasdaq:ZEUS), a national metals service center, today announced the following management changes.

Andrew S. Greiff has been promoted to the newly formed position of President of Specialty Metals. Mr. Greiff oversees the sales and distribution of our stainless steel and aluminum products. Mr. Greiff has been employed with Olympic Steel since 2009, previously serving as Vice President of Specialty Metals. Prior to joining the Company, Mr. Greiff owned and operated International Metals Group.

Raymond Walker has been promoted to the newly formed position of Senior Vice President of the Eastern Region. Mr. Walker has been employed with Olympic Steel since 1986, most recently serving as the Company’s Vice President of the Eastern Region.

Michael J. Cedoz has been promoted to the newly formed position of Vice President of Automotive. Mr. Cedoz has been employed with the Company since 2003, most recently serving as the General Manager of the Company’s Detroit division.

Terry J. Rohde, who had served as the General Manager of the Company’s Chicago division since 2008, has been promoted to General Manager of the new Gary, Indiana facility. The 150,000 square foot Gary, Indiana facility, anticipated to open in late 2011, is expected to house a Butech cut-to-length line, a four-high temper mill supplied by I2S, LLC and multiple pieces of plate burning equipment. Sean M. Heenan, who has served as a Regional Sales Manager of the Company since 2007, will succeed Mr. Rohde as General Manager of the Chicago division.

Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated, aluminum and stainless steel flat-rolled sheet and plate steel products. Headquartered in Cleveland, Ohio, the Company operates strategically located processing and distribution facilities in North America. For further information, visit the Company’s web site at http://www.olysteel.com.

The Olympic Steel, Inc. logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=3582

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “may,” “will,” “anticipate,” “should,” “intend,” “expect,” “believe,” “estimate,” “project,” “plan,” “potential,” or “continue,” as well as the negative of these terms or other similar expressions. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by such statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Further information on these and other risks and uncertainties is provided under Item 1A “Risk Factors” of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which disclosure is incorporated herein by reference, and elsewhere in reports that the Company files or furnishes with the SEC. This release speaks only as of its date and the Company undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law. You are advised, however, to consult any further disclosures the Company makes on related subjects in its reports filed with or furnished to the SEC.

Michelle Pearson-Casey
Corporate Communications Manager
Telephone: (216) 292-3800
Fax: (717) 709-1525

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