Building on a European business model where steel mills manufacture and distribute their steel products, James Bouchard saw an opportunity to employ that model in the United States based on his experience with U.S. Steel’s Slovakian National Steel Company subsidiary in Kosice, Slovak Republic. Together with Craig’s Bouchard experience in financing, the duo set out to expand Esmark’s enterprise to include steel production.
That initiative culminated in July 2006 when the Bouchards’ and their investment partners led by Franklin Mutual Advisers launched the first-ever combined proxy fight, reverse merger for control of Wheeling, West Virginia-based Wheeling–Pittsburgh Corporation. Following the successful shareholder vote in November of 2006 to accept Esmark’s slate of directors, Esmark took control of Wheeling-Pittsburgh and its Wheeling-Pittsburgh Steel Corporation subsidiary and other assets and began the task of restructuring Wheeling-Pittsburgh to become more competitive and return it to profitability.
On November 28, 2007, Esmark, Incorporated began trading on NASDAQ under the symbol of ESMK.
The merger between Esmark and Wheeling-Pittsburgh Corporation was completed in December of 2007, with Wheeling-Pittsburgh’s mill operations, building and construction products, corrugating and joint venture subsidiaries now operating units of Esmark Incorporated.
Since taking control of the legendary steelmaker, Esmark has realigned all of all its strategic assets and operations into two main operating units – Mill Operations and Downstream Operations. The Mill Operations include Wheeling-Pittsburgh’s steelmaking operation and Mountain State Carbon LLC (a joint venture with Severstal).
Esmark’s Downstream Operations are comprised of three operating divisions – Service Center Division, Converter Division and the Corrugated/Construction Division. The company’s Service Center Division includes Sun Steel, Century Steel, Great Western Steel, U.S. Metals and Supply, Miami Valley Steel, North American Steel, Independent Steel and Premier Resource Group.
Esmark’s Converter Division includes Electric Coating Technologies and Ohio Coatings Company, a joint venture with Dong Yang Tinplate America Corporation and Nippon Steel Trading America, Inc.
Esmark’s Corrugated/Construction Division includes Wheeling Corrugated, Wheeling Building Products and Wheeling Construction Products.
For more information on Esmark’s management, operations, business advantage and press room, click on the sections above.
