Ryerson Holds Groundbreaking Ceremony for New Central Steel & Wire Facility

Rhea-AI Summary

Ryerson Holding Corporation (NYSE: RYI) hosted a groundbreaking ceremony on June 1 for a new 900,000-square-foot facility in University Park, IL, which will serve as the headquarters for its subsidiary, Central Steel & Wire (CS&W). This facility is set to create over 300 jobs and will enhance processing capabilities with upgraded equipment. The center is expected to be operational by mid-2023, marking a significant expansion in Ryerson's infrastructure.

Positive

• New 900,000-square-foot facility aimed to enhance operations.
• Creation of over 300 jobs in the University Park community.
• Expected operational status by mid-2023.

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• None.

CHICAGO, June 6, 2022 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, held a groundbreaking ceremony on June 1 for its new 900,000-square-foot state-of-the-art facility – a service center facility and headquarters for its wholly-owned subsidiary, Central Steel & Wire ("CS&W"). Located in University Park, IL (a southern suburb of Chicago), the new facility will provide over 300 jobs and will feature expanded bar and tube processing equipment. The facility is expected to be operational by the middle of 2023.

"We have been creating and providing family wage jobs for a combined 293 years as Ryerson was founded in Chicago in 1842 and CS&W was founded in Chicago in 1909. How many things do you know that have lasted that long?" asked Eddie Lehner, Ryerson President & CEO, in a speech delivered at the ceremony. "It speaks to the durability, resiliency, and potential that brings us all here today. Our mission, our passion, and our purpose is to provide great experiences for our customers, employees, shareholders, suppliers, and communities. Great experiences never go out of style, and we need them now more than ever."  

Jack Barger added "On behalf of our more than 500 team members at CSW, we are thrilled to become part of the University Park community and relocate our main facility to Will County. Thank you to all of the elected officials and team members for your support and efforts."

Special guests at the groundbreaking ceremony included University Park Mayor Joseph Roudez, Will County CEO Jennifer Bertino-Tarrant, Illinois State Senator Patrick Joyce, Governors State University President Dr. Cheryl Green, Clayco VP and Industrial Business Unit Leader Trevor Ryor, Principal at Venture One Mark Goode, and the Ryerson leadership team.

About Ryerson
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 4,000 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.

Safe Harbor Provision
Certain statements made in this presentation and other written or oral statements made by or on behalf of the Company 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. The Company 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, 2021, 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. The Company 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 new facility is Ryerson Holding Corporation building?

Ryerson is building a 900,000-square-foot facility in University Park, IL, for its subsidiary Central Steel & Wire.

How many jobs will the new Ryerson facility create?

The new facility is expected to create over 300 jobs.

When is the new Ryerson facility expected to start operations?

The facility is expected to be operational by mid-2023.

What is the location of Ryerson's new facility?

The new facility is located in University Park, IL.

What is the significance of the new Ryerson facility?

The facility represents a major expansion in infrastructure and operational capabilities for Ryerson and CS&W.