Metallus Inc. announced that CEO Michael S. Williams will retire from his position and the Board effective December 31, 2026, while remaining as Special Advisor through June 30, 2027. The Board appointed current President and COO Kristopher R. Westbrooks to succeed him as President and CEO effective January 1, 2027. Westbrooks’ compensation includes an $800,000 annual base salary, a target bonus of 100% of base, and a $2.4 million annual long-term equity grant. The Board also appointed Kevin A. Raketich as Executive Vice President, Strategy and Corporate Development. Metallus Inc. manufactures high-performance specialty metals from recycled scrap metal in Canton, OH.

Metallus Inc. reported second-quarter 2026 net sales of $341.0 million, an 11% sequential increase, with net income rising to $8.9 million ($0.21 per diluted share). Adjusted EBITDA reached $29.0 million, up 18% sequentially. The company refinanced its asset-based revolving credit facility to extend maturity to June 2031 and repurchased 0.2 million common shares for $3.6 million. Metallus operates in the specialty metals manufacturing industry, producing high-performance alloy steel bars and seamless mechanical tubing.

Metallus Inc. entered into a Fifth Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. and other lenders on June 30, 2026, establishing a $300.0 million asset-based revolving credit facility. The agreement includes sublimits for letters of credit and swingline loans, and allows for potential aggregate principal increases of up to $200.0 million and a separate $30.0 million Incremental FILO Tranche. The facility matures on June 30, 2031, and is secured by substantially all personal property of the company and its subsidiaries. Metallus Inc. is a steel producer and manufacturer of steel products.