Ferrous Metal

What Ferrous Metal does

Ferrous Metal Processing (FMP) is a privately held, Midwest-based toll processor of flat rolled steel, operating a single 333,406-square-foot facility on 24 acres in Brooklyn (Cleveland), Ohio, as a subsidiary of diversified industrial group Ferragon Corporation. The company processes customer-owned steel coils through an integrated sequence of hot rolled and cold rolled services — including push/pull pickling with optional in-line shot blasting, heavy-gauge HR slitting, CR slitting, cold rolling on a four-high 66-inch combination reversing mill with 3,000 tons of rolling force, 100% hydrogen batch annealing (Ebner and LOI furnaces), and temper rolling with tolerances of +/- 0.00025 inches — supported by an on-site ISO/IEC 17025:2017-accredited metallurgical testing laboratory (FMP Met Lab). Capability highlights include a new 80-inch CR slitter (commissioned February 2024, processing coils up to 70,000 lbs), proprietary arbor and tooling technology, and ability to handle AHSS grades up to MS1700, Martensitic, Titanium, Aluminum, and stainless steels.

The business operates a 100% toll-processing model: customers (steel mills, service centers, and OEMs in transportation/automotive, energy, appliance, construction, agriculture, mining, and general fabrication) own the substrate and FMP charges a processing fee per job, billed under a single-invoice, one-stop-shop arrangement. Go-to-market is direct enterprise field sales, led by a President, EVP, CFO, VP-Commercial, and General Manager, with logistics delivered via an owned trucking fleet, an on-site Norfolk Southern 100-car rail yard with two company-owned switch engines, and 5.3-mile proximity to the Cleveland port for waterway freight. The company is ISO 9001:2015 certified (PRI) and ISO/IEC 17025:2017 accredited (ANAB), markets itself as the Midwest's leader in flat rolled toll processing, and in May 2024 repositioned commercially to address the documented cold rolled steel shortage via HR-to-CR conversion.

Name

Ferrous Metal

Legal name

Ferrous Metal Processing

Website

https://ferrousmetalprocessing.com

Company type

Private

Founded year

1933

Operating status

Operating

Headcount range

11–50 employees

Short description

Ferrous Metal Processing is a privately held Midwest toll processor of flat rolled steel, operating a single integrated 333,406-square-foot Cleveland facility that converts customer-owned coils through pickling, slitting, cold rolling, annealing, temper rolling, and metallurgical testing for steel mills, service centers, and OEMs.

Ownership category

akta.pro rank

Product category

Steel Toll Processing

NAICS

Rolling and Drawing of Purchased Steel (33122), Primary Metal Manufacturing (331)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310)

akta.pro primary industry

Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip) (IMAKABAE)

Keywords

• Toll processing services
• Flat rolled steel
• Cold rolled conversion
• Hot rolled processing
• Metallurgical testing

Headquarters

HQ city

Cleveland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Toll Processing Services: 100% toll processing business model where customers own the steel and FMP processes it for a fee. Services include pickling, HR slitting, CR slitting, cold rolling, annealing, temper rolling, and metallurgical testing. All processing done at one location with single invoice convenience. Customers include steel mills, service centers, and OEMs.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Ferrous Metal Processing operates a 100% toll processing business for flat rolled steel at a 333,406 ft² Cleveland facility on 24 acres. Customers own the steel substrate; FMP processes it for a fee through pickling, HR/CR slitting, cold rolling, 100% hydrogen batch annealing, temper rolling, and ISO/IEC 17025-accredited metallurgical testing — all delivered at one location with single invoice convenience.

Product overview

Ferrous Metal Processing is a steel toll processing company offering a comprehensive suite of integrated processing services. The core product portfolio includes Hot Rolled Toll Processing (pickling and HR slitting), Cold Rolled Conversion (a full-service offering that converts hot rolled coils into cold rolled product), CR Slitting, Pickling, HR Slitting, Cold Rolling, Temper Rolling, and Annealing services. The company also provides metallurgical testing through its FMP Met Lab. All services are designed to be performed in one location, providing one-stop processing convenience with single invoice billing. The Profit Prophet branding represents their toll processing philosophy emphasizing waste reduction and cost efficiency.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Eliminates extra shipping costs by processing all steel at one location
• +4 more outcomes

Segments7 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Two partnerships are on record, tiered core.

• Ferragon CorporationcoreOthersParent company of Ferrous Metal Processing. FMP operates as a Ferragon Company. © 2017 Ferragon Corporation. All Rights Reserved. Ferragon Corporation owns FMP and related processing divisions including Ferrolux, Autolum, HyCAL Corp., and Ferragon Corporation.
• Norfolk SoutherncoreOthersRail service provider with on-site 100-car side yard. FMP owns 2 locomotive switch engines for rail operations. Provides cost-effective rail shipping for inbound steel coils and outbound processed material.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Cleveland-Cliffs: Largest flat-rolled steel producer in North America and a major supplier of HR/CR feedstock. While vertically integrated and primarily a mill rather than toll processor, Cliffs' steel mill operations sit directly upstream of FMP and shape its input supply dynamics.
• Samuel, Son & Co. North American metal service center and processor with extensive flat-rolled processing, slitting and stamping operations. Competitor in select flat-rolled toll-processing niches but operates as a broader diversified metals distributor.
• Ryerson: Large publicly-traded metals service center with flat-rolled processing plus a broader carbon, stainless and aluminum distribution business. Overlaps with FMP in flat-rolled slitting/processing but operates at far larger scale and broader product scope.

Direct peers

• Olympic Steel: Cleveland-based steel service center and processor with flat-rolled slitting, cut-to-length, and value-added processing. Closest geographic and capability peer to FMP, also serving automotive and industrial customers from Ohio.
• Worthington Industries: Largest US independent steel processor with extensive flat-rolled toll processing, slitting, pickling and stamping capabilities serving automotive, construction and appliance end markets. Direct competitor in flat-rolled conversion with a much larger multi-site footprint.
• Steel Technologies: Flat-rolled steel processor with blanking, slitting and cut-to-length operations across the Midwest and South, serving automotive and appliance customers. Direct toll-processing peer with overlapping end markets.
• Heidtman Steel Products: Toledo-based flat-rolled steel processor with pickling, slitting and annealing services serving automotive and heavy equipment OEMs. Directly comparable Midwest toll-processing competitor.

Others

• HyCAL Corp: Ferragon Corporation subsidiary operating in heat treating and related metallurgical services. Adjacent capability complement that strengthens the parent platform's metallurgy value proposition to shared customers.
• Ferrolux: Sister company under Ferragon Corporation, focused on flat-rolled steel processing. Adjacent because it shares corporate parentage with FMP and likely serves overlapping customers, enabling potential internal referrals.
• Autolum Processing: Another Ferragon Corporation subsidiary focused on toll processing of aluminum and other non-ferrous flat-rolled products. Sister entity to FMP, broadening the parent platform's reach into non-ferrous processing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/p/Ferrous-Metal-Processing-100071206182437
• LinkedInlinkedin.com/company/ferrous-metal-processing

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ferrous Metal