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Article Excerpt
At a time when many metals service centers are faltering, Contractors Steel Co. has remained profitable. Indeed, despite the weak economy, the Livonia, Mich., steel distributor is in the midst of an expansion and has aggressive plans to grow the company even further in the next few years through internal initiatives or acquisitions.
Donald R. Simon, president and chief executive officer of Contractors Steel, founded the company in August 1960 at the urging of his wife, Esther. "She told me that the $137 a week take-home pay I was making at a small steel service center in Detroit was not enough. So I quit my sales job, rented two small rooms in a Detroit building supply company, plus a small space in the rear of the building, and went into business for myself."
Contractors Steel was started with 25 tons of various steel items purchased from another service center, which Simon stored on the ground under a tarp. He then purchased a 10-ton Bucyrus Erie 50-foot boom-tracked crane and an old beat-up truck from the county. "My wife answered the telephone. We had a driver for our one truck. I ran the crane, sold the steel and ran out to collect the money so that I could buy...
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