Feb. 28, 2007 — Cargill, a leading global trader, processor and distributor of iron and steel, has agreed to purchase the assets of Olympic Metals in Loudon, Tenn., through its Steel Service Center business. Terms of the deal were not disclosed.

Olympic is a single-location steel service center that offers stretcher-leveled cut-to-length sheets, blanking and coil slitting capabilities. The plant is located in eastern Tennessee about 30 miles southwest of Knoxville.

“This facility will allow us to expand our market area in the Mid-Atlantic and Southeastern states,” said Mike Taylor, President of Cargill’s Steel Service Centers. “It allows us to build on our existing strength in cut-to-length steel, in addition to adding a new technology to our portfolio. This will enable us to better provide solutions for our customers. This is a perfect strategic fit for us.”

Officials expect to close within the next 30 days.

Cargill is an international provider of food, agricultural and risk management products and services. With 149,000 employees in 63 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed.

The company currently operates six flat rolled steel service centers with over 225 employees, focusing on hot rolled band, pickled and oiled, cold rolled and tin mill products. Locations include East Chicago, Ind.; Houston Texas; Tulsa, Okla.; Memphis and Nashville, Tenn.; and Panama City, Fla.