Olympic Steel Inc (ZEUS)

Ryerson and Olympic Steel Announce Successful Closing of MergerFebruary 13, 2026 4:01 PM
PR Newswire (US)

CHICAGO and CLEVELAND, Feb. 13, 2026 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, and Olympic Steel, Inc. (formerly NASDAQ: ZEUS), a leading U.S. metals service center, together announce that they have successfully merged as of today. Ryerson is issuing 1.7105 shares of Ryerson common stock for every share of Olympic Steel common stock, after which former shareholders of Olympic Steel will hold approximately 37% of Ryerson.







The merger of these two companies enhances Ryerson's presence as the second-largest North American metals service center and represents a highly compatible strategic match as Olympic Steel brings its complementary footprint, capabilities, and product offerings into Ryerson's intelligently interconnected network of value-added service centers. The combined company expects to generate approximately $120 million in annual synergies by early 2028 majorly via procurement, scale, efficiency gains, commercial portfolio enhancements, and footprint optimization. Moving forward, the Company expects to report progress on synergy attainment on a quarterly basis.As of February 24th, the company will trade on the New York Stock Exchange as Ryerson Holding Corporation under the ticker "RYZ," which will honor both companies' former tickers and reflect the unification of their respective legacies and go-forward mission.Effective as of today, Eddie Lehner remains as Chief Executive Officer of Ryerson and Richard T. Marabito, former CEO of Olympic Steel, has been appointed as President and Chief Operating Officer of Ryerson. Jim Claussen, Executive Vice President & Chief Financial Officer of Ryerson, will continue to serve in his role for Ryerson. Richard A. Manson, formerly Chief Financial Officer of Olympic Steel, has been appointed Senior Vice President of Finance for Ryerson and will lead the transition and synergy attainment efforts. Andrew Greiff, formerly President and Chief Operating Officer of Olympic Steel, will now serve as Executive Vice President – Ryerson & President – Olympic Steel. Mark Silver, Ryerson's Executive Vice President, General Counsel & Chief HR Officer, will serve Ryerson as Executive Vice President, Chief Legal & Risk Officer. Molly Kannan, Ryerson's Corporate Controller and Chief Accounting Officer, will continue to serve in such role."The union of Ryerson and Olympic Steel unlocks tremendous growth opportunities across our now combined network of service centers, family of companies, and brands," said Eddie Lehner. "The augmented network density, product diversity, and service offerings promises a customer experience with greater speed to market, wider selection of products and services, and consistency of high value-added experiences. For our stockholders, we expect the merger will strengthen our ability to improve our quality of earnings through the cycle with accretive margins, strong free cash flow potential, an improved leverage profile, and approximately $120 million in attainable synergies all leading to enhanced shareholder value.""It's also deeply gratifying uniting two organizations with immense mutual respect, complementary businesses, and compatibility of values," continued Lehner. "My admiration for the Olympic leadership team and organization has only deepened over these past several months leading up to the closing and I look forward to our work together of shared mission and purpose to deliver all of the value this deal has to offer our customers, employees, and stockholders."Richard T. Marabito said, "We believe this merger represents an incredible opportunity to accelerate our growth commercially as we will be able to cross-sell processing capabilities, expand geographically, and strengthen the utilization of shared assets, all of which will improve the service experience for both contract and transactional customers. In addition, we could not be more confident in our procurement, efficiency, and optimization synergies, especially considering the scale of our combined business.""On top of all of this," continued Marabito, "We are also excited to bring our talents together at a time when both of our organizations are ending historically high investment cycles, have established strong balance sheets, and are experiencing what we believe to be the inflection of a manufacturing demand cycle. We are looking forward to joining forces with the Ryerson team, getting to work, and realizing our extraordinary potential together."Michael D. Siegal, formerly Executive Chairman of Olympic Steel's Board of Directors, has been appointed chairman of the Ryerson Board of Directors ("Board"). Three additional Olympic Steel Board members, Richard T. Marabito, Richard P. Stovsky, and Peter J. Scott, were found mutually satisfactory and have been appointed to the combined 11-member Board.Michael Siegal said, "I would like to congratulate and thank both management teams for achieving what is an important, historic event not only for Olympic Steel and Ryerson, but also for the metal service center industry. I look forward to leading the expanded Board and guiding the combined company into this new era of value creation for all stakeholders."The Board approved grants of restricted stock units, effective as of February 13, 2026, to each of Richard T. Marabito, Andrew S. Greiff, and Richard A. Manson, in connection with Ryerson's acquisition of Olympic Steel, Inc. The restricted stock units are subject to the terms of Ryerson's Second Amended and Restated 2014 Omnibus Incentive Plan, as amended, but were granted outside of the plan as an inducement material to the acceptance of employment by Messrs. Marabito, Greiff, and Manson with Ryerson, in accordance with NYSE Listing Rule 303A.08.The inducement award to Mr. Marabito consists of a grant of restricted stock units with a grant date fair value of approximately $3,880,000, but relating to no less than 150,496 shares and no more than 169,309 shares. The inducement award to Mr. Grieff consists of a grant of restricted stock units with a grant date fair value of approximately $2,430,000, but relating to no less than 94,254 shares and no more than 106,036 shares. The inducement award to Mr. Manson consists of a grant of restricted stock units with a grant date fair value of approximately $1,940,000, but relating to no less than 75,248 shares and no more than 84,654 shares. The restricted stock units will vest in full on the third anniversary of the grant date, subject to continued service through the vesting date and the other terms and conditions set forth in the inducement award agreements. Vesting of the inducement awards will be accelerated upon the occurrence of certain events as set forth in the award agreements evidencing the grants.Ryerson is providing this information in accordance with NYSE Listing Rule 303A.08.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 4,300 employees in 106 locations. Visit Ryerson at www.ryerson.com.About Olympic Steel
Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and value-added processing of carbon and coated sheet, plate and coil steel products; stainless steel sheet, plate, bar, and coil; aluminum sheet, plate, and coil; pipe, tube, bar, valves, and fittings; tin plate and metal-intensive end-use products, including stainless steel bollards; commercial, residential, and industrial venting and air filtration systems; Wright® brand self-dumping hoppers; and metal canopy components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 53 facilities. For additional information, please visit https://www.olysteel.com.Safe Harbor Provision
This communication contains certain "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may be identified by words such as "anticipates," "believes," "could," "continue," "estimate," "expects," "intends," "will," "should," "may," "plan," "predict," "project," "would" and similar expressions. Forward-looking statements are not statements of historical fact and reflect Ryerson's current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the merger involving Ryerson and Olympic Steel, including future financial and operating results, expected synergies, Ryerson's plans, objectives, expectations, and intentions, and other statements that are not historical facts. No assurances can be given that the forward-looking statements contained in this communication will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates, and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation,  the risk that the businesses will not be integrated successfully or will be more costly or difficult than expected; the risk that the cost savings and any other synergies may not be fully realized or may take longer to realize than expected, or that the transaction may be less accretive than expected; the risk that the merger will not provide stockholders with increased earnings potential; the risk that increases to earnings, margins, and cash flows may not be as large as expected or may not occur at all; Ryerson and Olympic Steel may not be able to increase commercial growth, cross-sell, or expand geographically, and scale the combined business as expected; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the merger; the risk of adverse reactions or changes to business or employee relationships resulting from the merger; adverse economic conditions; highly cyclical fluctuations resulting from, among others, seasonality, market uncertainty, and costs of goods sold; the combined company's ability to remain competitive and maintain market share in the highly competitive and fragmented metals distribution industry; managing the costs of purchased metals relative to the price at which each company sells its products during periods of rapid price escalation or deflation; customer, supplier, and competitor consolidation, bankruptcy, or insolvency; the impairment of goodwill that could result from, among other things, volatility in the markets in which each company operates; the impact of geopolitical events; future funding for postretirement employee benefits may require substantial payments from current cash flow; the regulatory and other operational risks associated with our operations located outside of the United States; the adequacy of each company's efforts to mitigate cyber security risks and threats; reduced production schedules, layoffs, or work stoppages by each company, its suppliers', or customers' personnel;  any underfunding of certain employee retirement benefit plans and the actual costs exceeding current estimates; prolonged disruption of each company's processing centers; failure to manage potential conflicts of interest between or among customers or suppliers of each company; unanticipated changes to, or any inability to hire and retain key personnel at either company; currency exchange rate fluctuations; the incurrence of substantial costs of liabilities to comply with, or as a result of, violations of environmental laws; the risk of product liability claims; Ryerson's indebtedness or covenants in the instruments governing such indebtedness; the influence of a single investor group over the company's policies and procedures; and other risks inherent in Ryerson's business and other factors described in Ryerson's filings with the Securities and Exchange Commission. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Ryerson. If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.Forward-looking statements are based on the estimates and opinions of management as of the date of this communication; subsequent events and developments may cause their assessments to change. Ryerson does not undertake any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law and they specifically disclaim any obligation to do so. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.



View original content to download multimedia:https://www.prnewswire.com/news-releases/ryerson-and-olympic-steel-announce-successful-closing-of-merger-302688031.htmlSOURCE Ryerson Holding Corporation

Original: Ryerson and Olympic Steel Announce Successful Closing of Merger

Ryerson Holding Corporation Stockholders and Olympic Steel, Inc. Shareholders Approve Proposals Related to Pending TransactionFebruary 12, 2026 11:00 AM
PR Newswire (US)

CHICAGO and CLEVELAND, Feb. 12, 2026 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, and Olympic Steel, Inc. (NASDAQ: ZEUS), a leading U.S. metals service center, announced today that the shareholders of Olympic Steel and the stockholders of Ryerson have approved the merger and the related issuance of Ryerson stock, respectively, at their respective Special Meetings. As a result, the closing of the merger is expected to occur on February 13, 2026, subject to the satisfaction of the remaining customary closing conditions. Shares of Olympic Steel will cease trading on February 13, 2026, and following the closing, Olympic Steel will no longer be listed on the NASDAQ exchange.







Under the terms of the merger agreement, upon the closing of the transaction, Olympic Steel will merge with Ryerson on the terms set forth in the merger agreement and Olympic Steel shareholders will be entitled to receive 1.7105 shares of Ryerson common stock per share of Olympic Steel common stock.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 4,300 employees in approximately 106 locations. Visit Ryerson at www.ryerson.com.About Olympic Steel
Founded in 1954, Olympic Steel (Nasdaq: ZEUS) is a leading U.S. metals service center focused on the direct sale and value-added processing of carbon and coated sheet, plate and coil steel products; stainless steel sheet, plate, bar and coil; aluminum sheet, plate and coil; pipe, tube, bar, valves and fittings; tin plate and metal-intensive end-use products, including stainless steel bollards; commercial, residential and industrial venting and air filtration systems; Wright® brand self-dumping hoppers; and metal canopy components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 53 facilities. For additional information, please visit https://www.olysteel.com.FORWARD-LOOKING STATEMENTS
This communication contains certain "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may be identified by words such as "anticipates," "believes," "could," "continue," "estimate," "expects," "intends," "will," "should," "may," "plan," "predict," "project," "would" and similar expressions. Forward-looking statements are not statements of historical fact and reflect Ryerson's and Olympic Steel's current views about future events. Such forward-looking statements include, without limitation, statements about the benefits of the proposed transaction involving Ryerson and Olympic Steel, including future financial and operating results, expected synergies, Ryerson's and Olympic Steel's plans, objectives, expectations, and intentions, the expected timing and likelihood of completion of the proposed transaction, and other statements that are not historical facts. No assurances can be given that the forward-looking statements contained in this communication will occur as projected, and actual results may differ materially from those projected. Forward-looking statements are based on current expectations, estimates, and assumptions that involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, without limitation, the risk that an event, change or other circumstance could give rise to the termination of the proposed transaction; the risk that a condition to the consummation of the proposed transaction may not be satisfied; the risk of delays in completing the proposed transaction, including as related to any government shutdown; the risk that the businesses will not be integrated successfully or will be more costly or difficult than expected; the risk that the cost savings and any other synergies from the proposed transaction may not be fully realized or may take longer to realize than expected, or that the proposed transaction may be less accretive than expected; the risk that the merger will not provide shareholders with increased earnings potential; the risk that any announcement relating to the proposed transaction could have adverse effects on the market price of Ryerson's or Olympic Steel's common stock; the risk of litigation related to the proposed transaction; the risk that increases to earnings, margins, and cash flows may not be as large as expected or may not occur at all; Ryerson and Olympic Steel may not be able to increase commercial growth, cross-sell, expand geographically, and scale the combined business as expected; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the diversion of management time from ongoing business operations and opportunities as a result of the proposed transaction; the risk of adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; adverse economic conditions; highly cyclical fluctuations resulting from, among others, seasonality, market uncertainty, and costs of goods sold; each company's ability to remain competitive and maintain market share in the highly competitive and fragmented metals distribution industry; managing the costs of purchased metals relative to the price at which each company sells its products during periods of rapid price escalation or deflation; customer, supplier, and competitor consolidation, bankruptcy, or insolvency; the impairment of goodwill that could result from, among other things, volatility in the markets in which each company operates; the impact of geopolitical events; future funding for postretirement employee benefits may require substantial payments from current cash flow; the regulatory and other operational risks associated with our operations located outside of the United States; the adequacy of each company's efforts to mitigate cyber security risks and threats; reduced production schedules, layoffs or work stoppages by each company's own, its suppliers', or customers' personnel; any underfunding of certain employee retirement benefit plans and the actual costs exceeding current estimates; prolonged disruption of each company's processing centers; failure to manage potential conflicts of interest between or among customers or suppliers of each company; unanticipated changes to, or any inability to hire and retain key personnel at either company; currency exchange rate fluctuations; the incurrence of substantial costs of liabilities to comply with, or as a result of, violations of environmental laws; the risk of product liability claims; either company's indebtedness or covenants in the instruments governing such indebtedness; the influence of a single investor group over either company's policies and procedures; and other risks inherent in Ryerson's and Olympic Steel's businesses and other factors described in Ryerson's and Olympic Steel's respective filings with the Securities and Exchange Commission (the "SEC"), including in the joint proxy statement filed by Ryerson and Olympic Steel with the SEC on January 14, 2026. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Ryerson and Olympic Steel, or the combined company resulting from the proposed transaction with the SEC, including under the heading "Risk Factors." If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.Forward-looking statements are based on the estimates and opinions of management as of the date of this communication; subsequent events and developments may cause their assessments to change. Neither Ryerson nor Olympic Steel undertakes any obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law and they specifically disclaim any obligation to do so. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.IMPORTANT ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND ITIn connection with the merger, Ryerson and Olympic Steel have filed a joint proxy statement with the SEC on January 14, 2026, and Ryerson has filed with the SEC the Registration Statement on Form S-4 on December 5, 2025 (File No. 333-291983) that includes the joint proxy statement of Ryerson and Olympic Steel and a prospectus of Ryerson. Each of Ryerson and Olympic Steel may also file other relevant documents with the SEC regarding the merger. This document is not a substitute for the Joint Proxy Statement/Prospectus or Registration Statement or any other document that Olympic Steel or Ryerson may file with the SEC. The definitive joint proxy statement/prospectus was mailed to stockholders of Ryerson and the shareholders of Olympic Steel on or about January 14, 2026. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN OR MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT RYERSON, OLYMPIC STEEL, AND THE MERGER.Investors and security holders are able to obtain free copies of the Registration Statement, Joint Proxy Statement/Prospectus and other documents containing important information about Ryerson, Olympic Steel and the merger through the website maintained by the SEC at http://www.sec.gov. Copies of the Registration Statement, Joint Proxy Statement/Prospectus and other documents filed with the SEC by Ryerson may be obtained free of charge by directing a request by mail to Ryerson's Corporate Secretary at Ryerson Holding Corporation, Attention: Secretary, 227 W. Monroe St., 27th Floor, Chicago, Illinois, 60606. Copies of the Registration Statement, Joint Proxy Statement/Prospectus and other documents filed with the SEC by Olympic Steel may be obtained free of charge by directing a request by mail to Olympic Steel's Chief Financial Officer at Olympic Steel, Inc., 22901 Millcreek Boulevard, Suite 650, Highland Hills, OH, Attention: Chief Financial Officer.



View original content to download multimedia:https://www.prnewswire.com/news-releases/ryerson-holding-corporation-stockholders-and-olympic-steel-inc-shareholders-approve-proposals-related-to-pending-transaction-302686611.htmlSOURCE Ryerson Holding Corporation

Original: Ryerson Holding Corporation Stockholders and Olympic Steel, Inc. Shareholders Approve Proposals Related to Pending Transaction

Olympic Steel Names Matthew Grussing Vice President of FabricationFebruary 11, 2026 4:30 PM
Business Wire
Olympic Steel Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced the appointment of Matthew Grussing to the role of Vice President – Fabrication. He will report to Andrew S. Greiff, President & Chief Operating Officer.


In his new role, Mr. Grussing will oversee the execution of Olympic Steel’s fabrication strategy, a core component of the Company’s broader growth initiatives. His priorities will include strengthening the organization’s fabrication-focused commercial presence, advancing operational standardization, and driving the adoption of new technologies.


Mr. Grussing joined Olympic Steel in 2010 as an Inside Sales Representative. Over his more than 16-year tenure, he has taken on a series of increasingly senior commercial roles, including serving as General Manager of the Company’s Minneapolis, Minnesota, plate processing facility and, most recently, Director – Fabrication.


“Matt is a trusted, reliable leader whose deep understanding of our business, our customers, and our fabrication capabilities make him an ideal fit for this role,” said Greiff. “Throughout his career with the Company, he has consistently demonstrated the vision, discipline, and commercial acumen needed to advance our strategy. His leadership will accelerate our continued growth into counter-cyclical, higher-margin, value-added fabrication and manufacturing, strengthening our ability to deliver more stable performance through all phases of the market cycle. Matt will play a pivotal role in driving the next chapter of Olympic Steel’s growth.”


Mr. Grussing earned his associate degree in mechanical drafting and design from Ridgewater College. He earned his bachelor’s degree in business administration from Bemidji State University. Mr. Grussing is also a graduate of the Metals Service Center Institute’s (MSCI) Strategic Metals Management Program (SMMP) at Washington University in St. Louis and has completed the “Battle Tested Leadership Principles” program at West Point through Thayer Leadership and MSCI.


About Olympic Steel


Founded in 1954, Olympic Steel (Nasdaq: ZEUS) is a leading U.S. metals service center focused on the direct sale and value-added processing of carbon and coated sheet, plate and coil steel products; stainless steel sheet, plate, bar and coil; aluminum sheet, plate and coil; pipe, tube, bar, valves and fittings; tin plate and metal-intensive end-use products, including stainless steel bollards; commercial, residential and industrial venting and air filtration systems; Wright® brand material handling solutions; and metal canopy components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 53 facilities.


For additional information, please visit https://www.olysteel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260211189436/en/
Michelle Pearson-Casey

Vice President – Corporate Communications & Marketing

216.292.3800


Original: Olympic Steel Names Matthew Grussing Vice President of Fabrication

ZEUS new 52 week high

ZEUS new 52 week high

ZEUS new 52 week high

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Olympic Steel, Inc. is a United States metals service center. The Company’s primary focus is on the direct sale and distribution of volumes of processed carbon, coated, aluminum and stainless flat-rolled sheet, coil and plate products. The Company acts as an intermediary between metal producers and manufacturers that require processed metal for their operations. It serves customers in carbon steel consuming industries, including manufacturers and fabricators of transportation and material handling equipment, construction and farm machinery, storage tanks, environmental and energy generation equipment, automobiles, food service and electrical equipment, military vehicles and equipment, as well as general and plate fabricators and metals service centers. It distributes its products primarily through a direct sales force. During the year ended December 31, 2010, it acquired Integrity Stainless, a distributor of primary and secondary stainless steel sheets, coil and strip coil.

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