Business Services Industry
Business Diary.(Business)(SET Enterprises Inc. acquires Michigan Steel Processing Inc.)
Crain's Detroit Business, October, 2003
acquisitions SET Enterprises Inc., a Warren metal processor, recently acquired Michigan Steel Processing Inc. of New Boston, a subsidiary of Sumitomo Corp. of America. In the transaction, Sumitomo and its parent company contributed the common stock of Michigan Steel Processing to SET in exchange for 45 percent of the outstanding common stock of SET.
Noble International Ltd., a business partner of SET, acquired 4 percent of the outstanding common stock of SET. SET will continue to be headquartered in Warren, while Michigan Steel Processing's New Boston operation will become SET Enterprises-New Boston. Arcadis G&M, Southfield, recently acquired Finkbeiner, Pettis & Strout Inc., Detroit and Novi. contracts Skanska USA Building Inc., Farmington Hills, has...
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