Steel Mills
Reliance to Acquire Tubular Steel Inc.
Written by Sandy Williams
November 30, 2015
Reliance Steel & Aluminum has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel, Inc., a distributor of carbon, alloy and stainless steel pipe, tubing and bar products.
Tubular Steel is headquartered in St. Louis, Missouri and has eight service center locations across the U.S. TSI net sales for 2014 were approximately $200 million. The acquisition will broaden Reliance’s product offering and support the company’s diversification strategy.
Terms of the purchase were not disclosed. The transaction is expected to close in early 2016.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”
Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.
Algoma swings to loss on ‘market challenges’ and ‘tariff uncertainties’
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.
Ternium raises budget for Mexico project
The steelmaker now expects the new steel slab mill in Pesquería will begin operations by Q4’26.
SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant