Steel Technologies history

In 1981 he was named a director of the corporation and would take on an increasing level of responsibility.

In 1986 the Michigan plant was expanded from 28,000 square feet to 40,000 square feet.

The first plant opened in Murfreesboro, Tennessee, in the fall of 1987.

In 1989 the company opened a plant in Elkton, Maryland.

In 1990 Graven would replace Elser as president, a position he would hold for four years, at which point Bradford Merwin would succeed him.

The Madison Heights plant was replaced by a new 130,000-square-foot plant in Canton Township, Michigan, in 1991, producing such automotive steel products as safety-belt buckles, door locks, and steering column components.

1997: Atlantic Coil Processing, Inc. is acquired.

In 1998, Steel Technologies bought Roberts Steel Co. in a deal worth $14.8 million.

In January 2000 the company bought Custom Steel Inc. and Custom Steel Processing Corp., known collectively as Custom Steel, which generated annual sales of $33 million.

The elder Ray had presided over 29 consecutive years of profitability, and despite the adverse effects of a slumping economy in 2001, exacerbated by the terrorist attacks of September 11 of that year, Steel Technologies posted a modest profit.