Ryerson Announces Agreement for New Central Steel & Wire Build-to-Suit Facility

Rhea-AI Summary

Ryerson Holding Corporation (NYSE: RYI) announced the signing of a lease for a 900,000-square-foot state-of-the-art service center in University Park, IL. This facility will serve as the headquarters and operational hub for its subsidiary, Central Steel & Wire (CS&W). The modern facility aims to enhance customer experience across a broad geographical area. CS&W president Jack Barger emphasized the commitment to the CS&W brand, which has a legacy of over 110 years.

Positive

• Signing a lease for a 900,000-square-foot modern facility enhances operational capabilities.
• The new service center aims to improve customer experience across a broad geographical area.
• Reinforces the commitment to the CS&W brand, which has a strong history of over 110 years.

Negative

• None.

CHICAGO, Oct. 8, 2021 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI; "Ryerson"), a leading value-added processor and distributor of industrial metals, announced today that its wholly-owned subsidiary, Central Steel & Wire ("CS&W"), has signed a lease for a 900,000-square-foot state-of-the-art service center facility in University Park, IL, that will become CSW's headquarters and operational hub. Strategically located, the build-to-suit facility will offer a great customer experience across a broad geographical area.

"This new facility represents an opportunity to modernize and grow our business, underscoring our commitment to the CS&W brand that is proudly more than 110 years in the making and continuing to prosper because of the unwavering support of our customers and my CS&W colleagues," stated CS&W president Jack Barger.

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 3,900 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.

Safe Harbor Provision

Certain statements made in this current report constitute "forward-looking statements" within the meaning of the federal securities laws, including statements regarding our future performance, as well as management's expectations, beliefs, intentions, plans, estimates, objectives, or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as "objectives," "goals," "preliminary," "range," "believes," "expects," "may," "estimates," "will," "should," "plans," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. Ryerson cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented metals industry in which we operate; fluctuating metal prices; our substantial indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; impacts and implications of adverse health events, including the COVID-19 pandemic; work stoppages; obligations under certain employee retirement benefit plans; the ownership of a majority of our equity securities by a single investor group; currency fluctuations; and consolidation in the metals industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2020, and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. Ryerson does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.

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SOURCE Ryerson Holding Corporation

FAQ

What is the new facility for Ryerson Holding Corporation?

Ryerson Holding Corporation has signed a lease for a 900,000-square-foot state-of-the-art service center for its subsidiary, Central Steel & Wire, in University Park, IL.

When was the lease signed for the new service center?

The lease for the new service center was signed on October 8, 2021.

Where is the new headquarters of Central Steel & Wire located?

The new headquarters for Central Steel & Wire is located in University Park, IL.

How will the new facility impact Ryerson's operations?

The new facility is expected to enhance operational capabilities and improve customer experience across a broad geographical area.

What does the new facility signify for the Central Steel & Wire brand?

The new facility underscores Ryerson's commitment to the Central Steel & Wire brand, which has been thriving for over 110 years.