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
Gerdau reshapes North American footprint as tariffs squeeze long steel imports
Gerdau is repositioning its North American business to capitalize on a sharp shift in steel trade flows driven by elevated tariffs across the US, Canada, and Mexico.
CRU: Interest in AHMSA is growing
Representatives of at least six companies interested in acquiring AHMSA have reportedly begun to carry out physical inspections of the insolvent company’s assets.
USW urges Algoma to diversify product line as $500M lifeline meets wider Q3 losses
The United Steelworkers (USW) is pushing for transparency after Algoma Steel announced earlier this week that it has received CA$500 million in financing from the Canadian government.
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
Algoma speeds up EAF transition, shifts focus to supplying mostly plate to Canadian market
Upended by the Trump regime's tornado of tariffs, Algoma Steel is pivoting on its cross-border business model, shifting its focus to supplying the Canadian market.