Company: ZEUS
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001437749-25-004742
Chunk: 99

Company: OLYMPIC STEEL INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 99
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 1

     4

      Total 

     242

     155

     397

Our quality assurance system, led by certified specialists and engineers, establishes controls and procedures covering all aspects of our products from the time the material is ordered through receipt, processing and shipment to the customer. These controls and procedures encompass periodic supplier and customer audits, workshops with customers, inspection equipment and criteria, preventative actions, material traceability and certification. We have quality labs for tensile testing at several of our facilities, including at our facilities in Cleveland, Ohio, Minneapolis, Minnesota, Buford, Georgia and Bettendorf, Iowa and an Underwriters Laboratory (UL) for electrical products testing at our facility in Wichita, Kansas.

In addition, 32 of our facilities have earned International Organization for Standardization (ISO) 9001:2015 certifications. Our office building in Winder, Georgia has received the Leadership in Energy and Environmental Design (LEED) certification.

     8

Customers and Distribution

We have a diverse customer and geographic base, which helps to reduce the inherent risk and cyclicality of our business. Net sales to our top three customers, in the aggregate, approximated 9%, 8% and 7% of our consolidated net sales in 2024, 2023 and 2022, respectively. We serve customers in metals consuming industries, including manufacturers and fabricators of transportation and material handling lift equipment, construction, mining and farm equipment, storage tanks, environmental and energy generation equipment, automobiles, food service and electrical equipment, as well as general and plate fabricators and metals service centers.

The table below shows the percentage of our consolidated net sales to the largest industries for the past three years.

      Industry 
      
      2024 

      2023 

      2022 

      Industrial machinery and equipment manufacturers and their fabricators 

     49
     %

     48
     %

     52
     %

      Metals service centers 

     7
     %

     9
     %

     9
     %

      Transportation equipment manufacturers 

     7
     %

     8
     %

     8
     %

      Residential and commercial construction 

     7
     %

     6
     %

     7
     %

      Agricultural and farm equipment 

     6
     %

     6
     %

     5
     %

      End use products 

     6
     %