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Olympic Steel Announces EZ-Dumper Asset Acquisition

Steel News - Published on Tue, 06 Aug 2019

Image Source: Business Wire
Leading metals service center in US Olympic Steel Inc announced that it has acquired certain assets related to the manufacturing of the EZ-Dumper® hydraulic dump inserts. Terms of the purchase were not disclosed. While the EZ-Dumper acquisition will not be material to Olympic Steel’s financial performance, the company does believe it will be incrementally positive to EBITDA. This represents Olympic Steel’s second branded metal products acquisition in the past seven months, following the McCullough Industries transaction in January 2019.

EZ-Dumper steel and stainless steel dump inserts for pickup truck and service truck beds are sold through a network of more than 100 dealers across the United States and Canada.

The EZ-Dumper brand, which was introduced to the market in 1972, is nationally recognized and its portfolio of insert products is known for quality and innovation. Built from heavy-gauge materials and backed by a structural steel frame, the dump inserts can hold and unload up to 6,000 pounds of material for construction, landscaping and home renovation applications. Made to bolt directly into most full-size pickup trucks, or custom-made for service and utility body vehicles, each insert lowers and dumps utilizing a 12-volt hydraulic pump that plugs directly into the truck battery.

EZ-Dumper will be included in Olympic Steel’s Carbon Flat Products segment, and its manufacturing assets and employees will be integrated into Olympic Steel’s facility in Chambersburg, Pennsylvania, which is near EZ-Dumper’s current manufacturing facility in Waynesboro, Pennsylvania.

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Posted By : Sanju Moirangthem on Tue, 06 Aug 2019
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