Optima Group Acquires CC Metals & Alloys
CALVERT CITY, Ky., March 15, 2011 /PRNewswire/ — Optima Group LLC has acquired 100% of the membership interest of the ferroalloys producer, CC Metals & Alloys, LLC from CCA Acquisition & Holding, Inc. and other investors. Certain of the owners of Optima Group are also partial owners of Felman Production, Inc., which produces ferrosiliconmanganese in Letart, West Virginia, Michigan Seamless Tube, LLC, a seamless tube and pipe company located in South Lyon, Michigan, Warren Steel Holdings, LLC, a facility with an electric arc furnace producing carbon and alloy steel continuously cast rounds located in Warren, Ohio, and Steel Rolling Holdings, Inc., a cold rolling facility in Gibraltar, Michigan. Certain of the owners of Optima are also partial owners of Felman Trading, Inc., a ferroalloys trading company that will be the primary distributor of ferrosilicon produced by CC Metals & Alloys. Since its founding in 2008, Felman Trading have been representing some of the world’s largest, longstanding alloy producers from Ukraine, Georgia, Romania and the United States. Felman Trading has been providing ferroalloy supplies to steel makers and foundries in North, Central and South Americas. “This acquisition adds to Felman Trading’s existing volume of ferrosilicon and expands its variety to meet the growing market demands,” said Vlad Mikhyeyev, Felman Trading’s General Manager.
CC Metals & Alloys will continue to provide high-grade ferrosilicon to customers in steel, foundry and welding rod industries. “CC Metals & Alloys’ longstanding track record of quality, customer service and on-time delivery as well as concentration on specialty, value-added products will continue to be a hallmark under our ownership and fits well with Optima’s overall strategy,” stated Motti Korf, Optima’s Chief Executive Officer and new CEO of CC Metals & Alloys. “The current management team at the Calvert City, KY facility will remain intact to assure a smooth transition and continued success in meeting the high standards expected by its customer base,” continued Mr. Korf. Ed Bredniak, who previously served as CC Metals & Alloys president, will stay on as its new Chief Operating Officer.
Jefferies & Company, Inc. advised Optima on the acquisition. Any questions about this transaction should be directed to Robert Powell at (305) 375-7560 or by email to email@example.com.
SOURCE Optima Group LLC