News

Titan Steel is Quoted in The Wall Street Journal

Baltimore, MD – October 31, 2014

William Hutton, president and CFO of Titan Steel Corporation, was quoted in The Wall Street Journal for an article on the revival of the Export-Import Bank of the United States:

Bill Hutton, president of Baltimore-based Titan Steel Corp., found export-credit insurance through a private-sector carrier after his policy backed by the Ex-Im Bank expired at the end of October. The new policy is more expensive and can be rolled back with little warning. “I wish we could’ve stayed with Ex-Im,” he said.

 

In one sense, he said, the critics of the bank were right. “Did we have to close the doors here? No,” he said.

 

But he also said the steel-products company was less competitive now in an environment that already faces stiff challenges from abroad, including oversupply in China and a strong dollar. “To have your own political system fighting against you, for a medium-sized company like ours right now, that’s just one more burden,” said Mr. Hutton.

The full story, Export-Import Bank is Revived, is available via The Wall Street Journal. To view, click here.

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Titan Steel Corporation is an independent global steel distributor specializing in tinmill and flat rolled steel products. Founded in 1946, Titan Steel has over 65 years of global sourcing, processing and distribution experience. We specialize in all end markets for light-gauge steel, including food cans, general line cans, crown caps, automotive parts, electronic components, and household products. Customers in over 30 countries rely on Titan Steel every day, and we have deep relationships with the leading steel mills around the world.