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Secondary Steel & Excess Prime Steel Distributor

Our firm currently represents a corporation specializing in the worldwide distribution of secondary and excess prime specialty steels with revenue for 2008 of $16 million. In the 18-year history of the company, it has never had a negative financial month. The company has established contacts for the purchase of secondary steel. Inventory is processed by contractors to customer’s specifications or sold to customers on an “as is” basis. Currently focuses on secondary and excess prime specialty steels in the following categories: 300 and 400 series stainless steel and electrical steel – inventory is warehoused at a variety of locations at differing per ton rates. Utilizes two sales agents for overseas sales – one in Hong Kong and a New York-based agent for sales to India. A small portion of stainless steel purchases is pre-sold "back to back" and all electrical steel is pre-sold. The following conversion services are completed through third party suppliers: slitting, cutting to length, precision blanking, polishing and containerized exporting. Major growth could be achieved with the expansion of the product lines to include prime stainless steel grades, carbon steel and other lines and by building a wider supply base. Expansion of the sales force and creation of a marketing program would have an immediate positive effect on sales.