Monarch Steel enters agreement with Feralloy Corp.

Monarch Steel Co. announced today that it has entered into a purchase agreement with Feralloy Corp. to acquire the Chicago-based company's operations and facilities at 4650 Johnston Parkway in Cleveland. Both companies are processors and distributors of steel products.

The transaction is expected to close within the next 30 days. Both companies have developed a mutual transition plan intended to provide service continuity to their customers during this interim period.