Sewickley-based Esmark Inc. and Stahlschmidt Inc. today announced a sale and licensing agreement whereby the Bouchard Group LLC and Stahlschmidt will acquire Esmark Technologies from Esmark for an undisclosed sum.
Stahlschmidt Inc., headed by CEO Uwe T. Schmidt, is a privately held management services company with interests in international trading of metals, oil and gas, renewable energy, supply chain management and other services.
Esmark Technologies was originally formed to provide technical and management services and commercial support across the steel, manufacturing and industrial sectors.
Stahlschmidt will own 60 percent of the venture and manage the operations in Cleveland, where Stahlschmidt’s North American operations have been headquartered since 1995. Esmark Technologies will continue to operate under the same brand.
Moving forward the two companies look to expand and develop future projects in the Ohio Valley including such initiatives as a diversified pipe and aggregates depot to support Marcellus field demand, a tin printing venture, coal transfer and blending station, and a shale gas co-generation facility on or near existing Esmark facilities.
Esmark has strong interests in Ohio with its steel group subsidiary Independent Steel, a steel service center based in Cleveland; the Esmark Aviation group subsidiary that provides contract medical flights for The Cleveland Clinic; and its and a 50 percent interest in Ohio Coatings Company’s tin plate production facility.
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