Today’s Headlines 7/1/2011
- Chicago Tube sale to Olympic Steel closes
- Aon pays $10.5M to settle wage suit
- City Hall insider Carlos Ponce tapped as interim CHA chief
- BrightStart worker suspended for promotion gaffe
- Gene & Georgetti marks 70 years with nod to retro drinks: Shia Kapos
- Quinn names new acting transportation secretary to replace IDOT’s Hannig
View All of Today’s News Headlines
— Chicago Tube & Iron Co., a suburban steel tubing distributor, is now officially part of Cleveland-based Olympic Steel Inc.
The transaction closed on Friday, the companies announced.
Romeoville-based Chicago Tube will become a subsidiary of Olympic Steel, a publicly traded U.S. metals service center. Olympic Steel announced in May it was buying Chicago Tube for $150 million in cash.
Donald McNeeley will remain as president of Chicago Tube and become CEO when Chairman and CEO Robert Haigh retires this year.
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