Ryerson Holding Corporation (NYSE:RYI) and Olympic Steel, Inc. (formerly NASDAQ:ZEUS) have officially merged, with Ryerson issuing 1.7105 shares of its common stock for each Olympic Steel share. Former Olympic shareholders now hold about 37 percent of Ryerson. Beginning February 24, the combined company will trade on the New York Stock Exchange under the ticker “RYZ,” reflecting the unification of both legacies.
Strategic fit and synergies
The merger enhances Ryerson’s footprint and capabilities, creating a highly compatible match between the two companies. The combined entity expects to generate approximately $120 million in annual synergies by early 2028 through procurement, efficiency gains, portfolio enhancements, and footprint optimization. Progress on synergy attainment will be reported quarterly.
Leadership and governance
Eddie Lehner continues as CEO of Ryerson, while Richard T. Marabito, former CEO of Olympic Steel, has been appointed President and COO. Other leadership appointments include Richard A. Manson as Senior Vice President of Finance and Andrew Greiff as Executive Vice President – Ryerson & President – Olympic Steel. Michael D. Siegal, formerly Executive Chairman of Olympic Steel’s Board, now serves as Chairman of the Ryerson Board, which has expanded to 11 members.
Executive perspectives
Lehner emphasized that the merger unlocks growth opportunities across the combined network, promising faster service, broader product offerings, and stronger shareholder value. Marabito highlighted the ability to cross‑sell capabilities, expand geographically, and optimize shared assets, while Siegal called the merger a historic event for the metals service center industry.
About Ryerson
Founded in 1842, Ryerson is a leading value‑added processor and distributor of industrial metals, with operations across the U.S., Canada, Mexico, and China. The company employs about 4,300 people in 106 locations.
About Olympic Steel
Founded in 1954, Olympic Steel is a U.S. metals service center specializing in carbon, stainless, and aluminum products, along with metal‑intensive end‑use products. Headquartered in Cleveland, Ohio, it operates from 53 facilities nationwide.
Forward-looking information is subject to risks and uncertainties. Please read our full Disclaimer.
