Why Steel Is Looking Sexy

Back in 1987, Matt Botsford, then 52, took the gamble of his life: He quit his job, got a second mortgage, and set out to finance a startup--in steel, of all things. Four years later, his savings gone and the bank threatening to take his house, he raised $35 million and launched World Class Processing in a defunct U.S. Steel plant. In eight months, World Class broke into the black by serving a market--for acid cleaning of finished steel--that big steelmakers were abandoning. Today, Botsford is considering opening four more U.S. plants and one in Mexico. "There's a bonanza out there," he says.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.