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Olympic Steel Announces Facility in Sumter County

April 17, 2008

COLUMBIA, S.C. – April 18, 2008 – The South Carolina Department of Commerce and the Sumter Development Board today joined Olympic Steel, Inc. (Nasdaq: ZEUS) in announcing the company’s decision to locate a facility in Sumter, South Carolina.  The approximately $10 million investment is expected to create 65 jobs when fully operational.

“We are pleased to announce a new greenfield facility in Sumter, South Carolina,” stated Michael D. Siegal, Chairman and Chief Executive Officer.  “Complementing the 2006 acquisition of our North Carolina operations, we are excited to further expand our processing capabilities in the southeast region for our valued customers. The Sumter location was particularly attractive to us because of its excellent proximity to original equipment manufacturers and the availability of a skilled labor force.  Importantly, this project would not have become reality without the tireless effort and support of the State of South Carolina and Sumter County,” concluded Mr. Siegal.

Founded in 1954, Olympic Steel is a leading U.S. steel service center focused on the direct sale and distribution of large volumes of processed carbon, coated, and stainless flat-rolled sheet, coil, and plate steel products.  Olympic Steel provides its customers with processing services such as traditional service center processes of cutting-to-length, slitting, and shearing and higher value-added processes of blanking, tempering, plate burning, precision machining, welding, fabrication, and painting of steel parts.

“As we work to compete in the global economy, South Carolina’s ability to attract world-class companies and new investment is increasingly important.  Today’s announcement certainly speaks to our success in that regard as well as our ability to create a business-friendly environment and enhance the state’s economic soil conditions.  We remain committed to continuing these efforts to create an environment that will promote job creation and opportunity for more South Carolinians,” said Gov. Mark Sanford.

Secretary Joe Taylor added, “Olympic Steel is a leading U.S. steel service center with over 50 years experience. The company’s decision to locate in South Carolina is a strong testament to our state’s market access and quality infrastructure.  Thanks to the team efforts of state and local officials, Sumter County will benefit from this investment now and in the future.”

The company is a multi-regional supplier of flat rolled steel products to targeted customers offering consistent quality, on-time delivery, competitive cost, and value-added services of custom technical, material application, and informational support.  The decision to locate in South Carolina was made based on market access and customers in the area.

“Sumter County has an advanced steel working cluster, a pro-business climate, and a great pool of skilled workers, so our community is an excellent fit for Olympic Steel,” said Greg A. Thompson, Chairman of the Sumter Development Board. “On the other side, Olympic Steel has a reputation for taking care of its people and being an active contributor to the communities that host their facilities, so they’re an excellent fit for us.  I think this will be a mutually beneficial relationship for many years to come.”

“On behalf of Sumter County Council, we’re very pleased that Olympic Steel has chosen our community and our people,” said Vivian Fleming-McGhaney, Chairwoman of Sumter County Council. “We are always appreciative when companies and businesses invest in Sumter County and this proves that we are a competitive location to operate a business.”

Central S.C. Alliance Chairman George Bullwinkel, Jr. said, “We are delighted that Olympic Steel has selected Sumter County and the Central S.C. Region as the location for the company’s newest facility. Our region offers a strategic and cost effective location to meet the needs of their customers.  We appreciate Olympic Steel’s focus on its employees as well as having a track record of being a great corporate citizen.”

Headquartered in Cleveland, Ohio, the Company operates 15 facilities and employed approximately 1,170 employees at December 31, 2007.  For more information about Olympic Steel visit http://www.olysteel.com.



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“Everyone at Mount Franklin Foods is excited about our operations in Sumter, South Carolina. We are confident that we will have an abundance of excellent candidates as we build our team."
Gary Ricco
President and CEO, Mount Franklin Foods