18 Sep Michael P. Diclemente Executive Vice President of Finance and Treasurer for Esmark, Inc. and Esmark Europe
PITTSBURGH, PA – September 18, 2014 – Esmark, Inc., a diversified holding company with interests in steel manufacturing and distribution, oil and gas exploration and production and real estate services, today announced that it has appointed steel industry veteran Michael P. DiClemente Executive Vice President of Finance and Treasurer for Esmark, Inc. and its newly formed company, Esmark Europe.
DiClemente brings more than 35 years of diversified experience in public company corporate finance, accounting, treasury management and financial advisory services across the steel, energy and chemicals industries. In his new capacity he will direct all financing and treasury management functions for both parent company Esmark, Inc. and its newly formed company, Esmark Europe.
In making the announcement, James P. Bouchard, Chairman and CEO of Esmark, Inc. and Esmark Europe, said DiClemente’s appointment marks the return of the former Treasurer of Wheeling-Pittsburgh Steel Corporation and Esmark, Inc. to the company. “We’re very fortunate and excited to have Mike back on the management team. He was a trusted advisor during our historic and complex merger with Wheeling-Pitt in 2007, and later as we grew Esmark, Inc. into a billion-dollar enterprise,” he said. “Mike’s significant experience in the public and private debt capital markets and commercial lending sector will be invaluable to Esmark and Esmark Europe moving forward.”
Bouchard added that DiClemente will join seven other former U.S. Steel-Kosice executives at the newly formed Esmark Europe company and management team. “Our combined experiences and collaboration with the successful turnaround and revitalization of the Kosice steel mill will have a significant impact on our European operations,” he said.
DiClemente’s career background includes senior-level corporate finance, treasury management and mergers and acquisitions positions for companies such as United States Steel Corporation (USS), and Fortune 500 Company and USS spinoff Aristech Chemical Corporation, which was formerly listed on the New York Stock Exchange.
Most recently, DiClemente was a senior financial advisor in corporate banking with an emphasis on commercial lending. His financial services experience spans pension and 401(k) plan investment management, credit administration and insurance risk management.
DiClemente holds a Bachelor of Science in Finance and MBA from West Virginia University.
About Esmark, Inc.
Esmark, Inc. is a diversified, privately-held family company with a portfolio of industrial companies with strong roots in the steel industry. Over the years, Esmark has diversified its interests and operations into a number of businesses engaged in the industrial and commodity sectors. Esmark (a former publicly traded company on NASDAQ: ESMK) has focused on several key industries including steel services, oil and gas exploration, aviation, real estate, professional services, technology and youth sports development. The company is also an active corporate citizen in the communities it serves, having committed more than $5 million in philanthropic support a wide range of humanitarian, education, family wellness and youth sports programs in Pennsylvania, Illinois and internationally.
Esmark Steel Group, a wholly owned subsidiary of Esmark, Inc., is one of the U.S.’s largest value-added processors and distributors of flat-rolled steel products and provides just-in-time logistics and transportation services to a wide range of customers and industries across the country. For more information visit www.esmark.com or www.steel.esmark.com.
Ohio Coatings Company (OCC) is a world-class producer of tin plate steel and the third largest producer in the United States. A 50-50 joint venture between Esmark, Inc. and South Korea’s TCC Steel, Ohio Coatings Company features a state-of-the-art, computer controlled electrolytic tin plate line and more than 130,000 square-feet of production facilities. For more information visit http://www.ohiocoatingscompany.com.