BOYD COUNTY, Ky. (WSAZ) -- Optima Specialty Steel is new owner of Kentucky Electric Steel.
The Florida based company reportedly paid more than $12 million for KES. The acquisition was completed earlier this month.
“We are very excited to close on our acquisition of KES,” said Kevin Stevick, president and chief executive officer of Optima Specialty Steel. “We are thrilled to incorporate the company into the fold of Optima Specialty Steel, as this integration will enable us to further cement our position as an industry leader in the specialty steel market. KES has a long history of delivering quality products and value to its customers, and we look forward to honoring this legacy by continuing to serve the market with the highest standards of excellence.”
KES manufactures over 2,600 different Special Bar Quality and Merchant Bar Quality items which are sold to the leaf-spring suspension market for light and heavy-duty trucks, mini-vans and utility vehicles, cold drawn bar converters, certain specialty applications for steel service centers, truck trailer manufacturers and other miscellaneous markets.