Diverisified Holdings News
Premier Steel Posts 60% Sales Increase For the Fourth Consecutive Year
February 1, 2007, Detroit, Michigan – Despite challenges to its target industry, an automotive manufacturing-based affiliate of Soave Enterprises LLC has once again posted record-breaking sales. Premier Steel, a Detroit-based steel warehouse distributor and processor of prime flat rolled steel, has increased its sales by an average of over 60% every year for the past four years.
Key to Premier’s continuing success is the competitive pricing, quality and on-time delivery of steel prepared to customer specifications. As a result of this strategy, Premier Steel has been successful in developing substantial new business with General Motors, Ford Motor Company, tier one and tier two automotive suppliers, building products and non-automotive concerns.
Also significant to the company’s achievement is the synergy established by efficiently integrating the overlapping customer base of Premier Steel with its sister corporation, Ferrous Processing and Trading (FPT). FPT’s significant relationship with major integrated and mini-mills throughout the Midwest – providing them with 3 million tons of scrap each year – puts Premier Steel in an advantageous position to purchase steel at competitive prices.
“When the company became part of FPT in 2003, the strategic alliance brought tremendous opportunity for our firm and substantial added value to our customers,” said Fred Bause, President of Premier Steel. “By embracing the synergy of our collective resources, we have reached past original expectations, with current sales topping $42.7 million.”
Premier Steel, an ISO 9001:2000 certified company, maintains inventories of hot rolled, hot rolled pickled, cold rolled and cold rolled full hard, as well as galvanized, electro-galvanized and galvanealed in both low carbon and high strength low alloy (HSLA) grade steel.
Premier Steel is an affiliate of Soave Enterprises, L.L.C., www.soave.com. Soave Enterprises is a diversified management and investment company founded by Detroit businessman Anthony L. Soave that provides strategic planning, financial and other management resources to its affiliated business ventures in the real estate, automotive retailing, beer distribution, scrap metal, industrial services and transportation industries, among others. Recently, Forbes Magazine ranked Soave Enterprises as the 192nd largest privately held company in the United States.
