Olympic Steel Inc. (Nasdaq: ZEUS), a leading national metals
service center, today announced Andrew Greiff has been promoted to
Executive Vice President and Chief Operating Officer, effective August
19, 2016.
Greiff joined Olympic Steel in 2009. In 2011 he was promoted to
President, Specialty Metals. In that role he managed sales and
distribution of stainless steel and aluminum products. Since then, the
Company's special metals business has rapidly expanded. In 2016, Olympic
Steel accounted for 5.5% of the domestic stainless steel sheet and coil
market and nearly 2% of the aluminum sheet and coil market, according to
the Metal Service Center Institute's Metals Activity Report.
"To complement our principal carbon steel business, several years ago we
strategically expanded into new product categories. Andrew has overseen
consistent organic growth in specialty metals, which now comprise almost
20% of our consolidated sales," said Chairman and Chief Executive
Officer Michael D. Siegal. "In addition to driving growth in specialty
metals, Andrew has also managed our established carbon business in the
Midwest Region. His broad experience makes him ideally suited for this
expanded, company-wide role."
This appointment divides the responsibilities of President and Chief
Operating Officer. David Wolfort continues to serve as President of the
Corporation.
"As a growth company, we must consistently deepen our executive
management team to accommodate future growth and succession
opportunities," Siegal said.
Greiff earned his Bachelor of Arts degree in political science from
Tulane University and he has also completed MSCI's service center
management courses. He is a member of the MSCI and a member of the
Fabricators and Manufacturers Association, and serves on the boards of
the Hawken School and the MSCI Specialty Metals Division.
About Olympic Steel
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 and stainless flat-rolled sheet, coil and plate
steel and aluminum products. The Company's CTI subsidiary is a leading
distributor of steel tubing, bar, pipe, valves and fittings, and
fabricates pressure parts for the electric utility industry.
Headquartered in Cleveland, Ohio, Olympic Steel operates from 33
facilities in North America.
For additional information, please visit the Company's website at www.olysteel.com
or www.b2i.us/profiles/investor/ContactUs.asp?BzID=2195
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Olympic Steel Investor Relations
Matthew J. Dennis, CFA,
216-672-0522