Cyclops Steel (also known as Universal-Cyclops and for one of its main subsidiaries as Detroit Steel) was a

steel Steel is an alloy made up of iron with added carbon to improve its strength and fracture resistance compared to other forms of iron. Many other elements may be present or added. Stainless steels that are corrosion- and oxidation-resistant ty ...

company based in

Pittsburgh, Pennsylvania Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...

. It was founded in nearby

Bridgeville, Pennsylvania Bridgeville is a borough in Allegheny County in the U.S. state of Pennsylvania. The population was 4,804 at the 2020 census. Geography Bridgeville is located along Chartiers Creek, about southwest of downtown Pittsburgh at . According to the U ...

in 1908 as Universal Rolling Mill Company, and merged with Cyclops Steel Company founded in 1884 of the

Western Pennsylvania Western Pennsylvania is a region in the U.S. state of Pennsylvania, covering the western third of the state. Pittsburgh is the region's principal city, with a metropolitan area population of about 2.4 million people, and serves as its economic ...

city of Titusville in 1936. Cyclops Steel marketed to industries such as aerospace, automotive, business machines, chemical processing, communications equipment, construction, electronics, farm machinery, food processing equipment, home appliances and cutlery, industrial machinery, marine equipment, medical equipment, drilling and mining equipment, military equipment, power generation equipment, rail transportation, sports equipment and tools, ties and fixtures. Not to be confused with Cyclops Steel Works in

Sheffield Sheffield is a city status in the United Kingdom, city in South Yorkshire, England, whose name derives from the River Sheaf which runs through it. The city serves as the administrative centre of the City of Sheffield. It is Historic counties o ...

, UK in the mid 1800s. Led by Chairman and CEO William H. Knoell, Cyclops pursued a counter-cyclical strategy which helped it to diversify from steel. As a result, Cyclops purchased the Clairton, Pennsylvania based 16-chain Busy Beaver lumber stores in 1972, and the Silo Electronic Stores in 1980 for $35 million ($ in today's terms). Cyclops and

Colt's Manufacturing Company Colt's Manufacturing Company, LLC (CMC, formerly Colt's Patent Firearms Manufacturing Company) is an American firearms manufacturer, founded in 1855 by Samuel Colt and is now a subsidiary of Czech holding company Colt CZ Group. It is the succ ...

entered into a very public battle for a Colt steel mill in

Midland, Pennsylvania Midland is a borough located along the Ohio River in western Beaver County, Pennsylvania, United States. As of the 2020 census, the borough population was 2,430. It is part of the Pittsburgh metropolitan area. Founded in 1906, it was initially a ...

during 1982. In August, 1986 Cyclops shareholders rejected selling off its core steel mill business in favor of a management suggested re-focusing only on

Silo A silo (from the Greek σιρός – ''siros'', "pit for holding grain") is a structure for storing bulk materials. Silos are used in agriculture to store fermented feed known as silage, not to be confused with a grain bin, which is used t ...

& Busy Beaver retail stores. In February 1987, Cyclops Steel was bought out by

Alleghany Corporation Alleghany Corporation is an American investment holding company originally created by the railroad entrepreneurs Oris and Mantis Van Sweringen as a holding company for their railroad interests. It was incorporated in 1929 and reincorporated ...

for $494 million ($ in today's terms), as its 119-store Silo electronics outlets and 11-store Busy Beaver retailers are spun off into British based Dixons Group Ltd.

Notable visits

*In 1952: Dutch Prime Minister Willem Drees opened the second day of his three-day visit, stopping at the Cyclops Steel mill near Pittsburgh. *April, 1980: Senator and 1980 presidential candidate Edward Kennedy visits the Bridgeville, Pennsylvania mill on a campaign stop.

References

External links

Mechanical PressUniversal Stainless
Rolling mills Steel companies of the United States Defunct companies based in Pennsylvania Historic American Engineering Record in Pennsylvania Bridge companies Manufacturing companies based in Pittsburgh 1908 establishments in Pennsylvania Construction and civil engineering companies established in 1908 American companies established in 1908 {{US-manufacturing-company-stub