Metal One Corporation (headquartered in Chiyoda-ku, Tokyo, Japan), is pleased to announce that its subsidiary, Plateplus, Inc., has officially completed its purchase of the U.S. metals business of Cargill, Incorporated (headquartered in Minneapolis, Minnesota, U.S.). The transaction was closed as of Friday, December 29, 2017.
Plateplus, Inc., which was recently incorporated as a wholly owned subsidiary of Metal One Corporation, has acquired Cargill's U.S. metals business and related commercial activities of hot rolled steel coils and cut-to-length sheet products.
James Ralston, former president of the Ohio division of Coilplus, Inc. was appointed as President & CEO of this new company.
About Metal One Corporation
Metal One is a fully integrated steel trading and distribution company created through the merger of Mitsubishi Corporation’s and Sojitz Corporation’s steel product business divisions. Metal One is well-known in the industry for its range of products, application know-how, industry-leading distribution network (wholly owned and third party) and strong customer service. Metal One has a leading position in the steel trading, processing and distribution industries in Asia, the U.S. and other global markets.
About Cargill, Incorporated
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, Cargill helps people thrive by applying its insights and 150 years of experience. Cargill has 155,000 employees in 70 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where they live and work. Cargill is active in global ferrous markets, offering tailored physical supply and financial solutions in iron ore and steel. For more information, visit Cargill.com and our News Center.
About Plateplus, Inc.
Upon this acquisition, Plateplus becomes one of the market leaders in the steel industry in the U.S. by providing high quality hot rolled sheet and plate products. The company has its headquarter in The Woodlands, Texas, as well as one commercial office in Minneapolis, Minnesota, and eight production facilities in seven locations.
For more information regarding this news release:
Takashi Imura, Hisato Seki
Corporate Planning Department
Metal One Corporation