Together the companies look ahead to provide quality products and services to their customers.
Ohio based Majestic Steel USA has recently acquired the business assets of Tampa based Titan Metal Service and is taking over Titan’s nearly 5-acre steel-processing facility at Port Tampa Bay. The terms of the deal were not disclosed.
According to Majestic, a family-owned and -operated company based in Cleveland, the deal supports it expand its presence in the market for coated, flat-rolled steel, especially in Florida.
Titan Metal Service in developing stage
In Tampa, Titan imports large rolls of steel from domestic and foreign mills, then cuts the steel into sheets or ribbons that manufacturers use to make products ranging from air-conditioning ducts to gym lockers. Chris Bush and Matt Rossi founded Titan under a different name in 1997 and moved the company from Clearwater to the port in 2007. This year the company’s workforce had grown to about 25.
The deal would be beneficial for customers
Todd Leebow, Majestic president and CEO stated in an announcement, “We are happy to welcome Titan Metal Service to the Majestic Steel USA family,” moreover, “We look forward to continuing to support the existing business while pursuing growth opportunities in the Southeast region. As a combined team, we are committed to providing quality products and services to our customers.”
Lane Ramsfield, port vice president of real estate stated, “It’s all steel products,” “We’re excited that Majestic has a desire to be long-term and a desire to grow their business. … We’re excited to have that kind of tenant.”
As part of the deal, the port’s board voted in October to extend the lease for the facility, located at the northern end of Hookers Point, from 2026 to 2038, with six five-year extensions. The port also has slightly modified the lease to allow Majestic to bring in a more diversified range of steel services to the port.