Keystone Acquires Steel Products Manufacturer

Keystone Consolidated Industries has acquired substantially all of the operating assets of CaluMetals, which is based in Chicago Heights, Ill.

The company is a manufacturer of merchant and special bar quality products and special sections in carbon and alloy steel grades. Last year CaluMetals shipped about 17,000 tons of metal products.

Keystone also completed an amendment to its current credit facility, increasing the total committed facility amount from $80.0 million to $100.0 million, in part to finance the CaluMetals acquisition.

Keystone expects to provide the majority of the billet requirements of the acquired operations from its Peoria, Ill., facility. The acquisition of CaluMetals allows Keystone to further enhance its vertical integration strategy by converting more of its current billet production into higher-margin products.