Chicago, IL (PRWEB) July 02, 2012
It was announced today that Leavitt Tube Company has been renamed Maruichi Leavitt Pipe & Tube, LLC. The change reflects the ownership position of the company which is 60 percent owned by Maruichi Steel Tube Ltd. (MKK). The remaining 40 percent of the company is owned by Sumitomo Corporation of America (SOCA).
Maruichi Leavitt Pipe & Tube will continue to be headquartered in Chicago. It will have its own distinct logo and identity, and will continue to produce mechanical tubing and steel hollow structural sections, commonly known as HSS. The company also plans on producing A53 Grade B Tested Pipe and API 5L Specification Pipe after upgrades to its largest structural tube mill, the W80, are complete in the first quarter of 2013.
Leavitt Tube Company
Leavitt Tube began producing mechanical steel tubing in 1956. The company evolved into an industry leader with one of the broadest size ranges of structural, mechanical and Hi-Y50 pipe-size tubing in the industry. Headquartered in Chicago, Illinois; it operated several tubing mills with facilities in Chicago and Jackson, MS. In 2008, Maruichi Steel Tube LTD of Japan acquired a majority interest in Leavitt Tube.
Maruichi Steel Tube LTD
Maruichi Steel Tube, LTD (MKK) founded in 1947, has developed a global business model by establishing manufacturing companies in Japan, the United States, Indonesia, China, Vietnam and India. With over $1.5 billion in sales, and total production of more than 1.5 million tons of steel tubing, Maruichi Steel Tube is highly regarded, and is one of the world’s largest manufacturers of welded steel tube. For more information, visit http://www.maruichikokan.co.jp/english/
Sumitomo Corporation of America
Sumitomo Corporation of America (SCOA) is an indirect, wholly owned subsidiary of Sumitomo Corporation, Japan (SC). In 2011, the corporation reported revenues of more than $6.4 billion and net income of more than $238 million. It was established in 1952 and is headquartered in New York City. SCOA has offices throughout the U.S., North and South America and is an investor and business partner in more than 80 subsidiary and affiliated companies. In recent years, SCOA has expanded the scope of its business beyond that of a trading company to become an investor and financier of businesses, and a solutions provider in many areas, including, distribution, project management, supply chain management, technology transfer, trade and transportation. For more information, visit http://www.sumitomocorp.com/
Contact: Pat Knutson, 773-881-2653