New Stretcher Leveler Line Debuts at Olympic Steel's Winder Operation

CLEVELAND, June 29, 2015 (GLOBE NEWSWIRE) -- Olympic Steel Inc. (Nasdaq: ZEUS), a leading national metals service center, today announced that it has commenced operation of a new cut-to-length stretcher leveler at its Winder, Georgia, facility.

"To satisfy demand for higher strength steel able to withstand complicated laser cutting and other tight-tolerance downstream operations, Olympic Steel has long provided fabricators with perfectly leveled materials containing no coil memory, and thereby eliminating residual spring back," said Sean Heenan, General Manager of the Winder operation. "By elongating metal beyond its yield point, internal stresses are equalized throughout the material ensuring the consistency required by today's leading manufacturers. This equipment has been strategically located to serve manufacturers in the southeast and complements our existing stretcher leveler line and three temper mills located throughout the U.S."

The new line features the HawkeyeTM Flatness Detection System and was custom designed and built by Butech Bliss of Salem, Ohio. It processes steel coils weighing up to 30 tons at 150 feet per minute in a wide range of thicknesses and yield strengths. The line readily processes hot rolled coil, pickled and oiled steel up to 74 inches wide and 0.5 inch thick for a wide variety of applications.

About Olympic Steel

Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The Company's CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry. Headquartered in Cleveland, Ohio, Olympic Steel operates from 35 facilities in North America.

For additional information, please visit the Company's website at http://www.olysteel.com or http://www.b2i.us/profiles/investor/ContactUs.asp?BzID=2195

About Butech Bliss

Butech Bliss pioneering design, engineering and manufacturing capabilities includes 125 years of experience in coil processing; mill equipment construction; extrusion, forging and melting; and contract manufacturing.

CONTACT: Matthew J. Dennis, CFA
         Olympic Steel Investor Relations
         (216) 672-0522

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