02.12.2015, 23:39
Reliance Steel & Aluminum Co. Agrees to Acquire Tubular Steel, Inc.
OREANDA-NEWS. Reliance Steel & Aluminum Co. (NYSE: RS) announced today that it has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel, Inc. ("TSI"), a distributor and processor of carbon, alloy and stainless steel pipe, tubing and bar products. Founded in 1953 and headquartered inSt. Louis, MO, TSI provides national coverage to its customers from its eight locations acrossthe United States. The addition of TSI broadens Reliance's product breadth and supports its customer diversification strategy. For the year endedDecember 31, 2014, TSI's net sales were approximately$200 million. The transaction is expected to close in early 2016, subject to regulatory approval and customary closing conditions. The terms of the transaction were not disclosed.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and twelve countries outside of the United States, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and twelve countries outside of the United States, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
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