Cold Metal Products Inc., an intermediate producer of strip steel, has announced it will discontinue full manufacturing of cold-rolled stainless steel effective immediately. CMP President and CEO Raymond P. Torok said the decision was based on the company’s focus on markets that best match CMP capabilities while offering greater growth and profit potential.
“The market for cold-rolled stainless steel has been sluggish for some time and we don’t see that turning around in the immediate future,” Torok said. “We will continue to concentrate on adding value to our customers through high quality products and outstanding service and solutions in those markets that play to our manufacturing and technical expertise.” Torok said that CMP has been working with its stainless steel customers on an exit strategy that will support their short-term product demand as well as provide alternate sourcing opportunities for the longer term. Cold Metal Products will continue to provide intermediate processing of stainless steel including rolling, slitting, oscillating and edging.