Steel Mills

Reliance Operations Unscathed by Harvey
Written by Tim Triplett
September 10, 2017
Reliance Steel & Aluminum Co., Los Angeles, reports that its operations in the Houston area suffered no material damage to facilities, equipment or inventories because of Hurricane Harvey. Many facilities were closed and unable to ship for most of last week due to the catastrophic flooding, but are now reopened and operational.
Reliance operates 13 locations in the storm-ravaged area. Their total sales represented approximately 4 percent of the company’s consolidated net sales in the first half of fiscal 2017.
“We are happy to report that all of our employees and their families are safe. However, many have suffered losses, and our thoughts and prayers are with them as they recover,” said Gregg Mollins, Reliance president and CEO. “We are in a solid position to support our customers as they ramp up their businesses, but it is still too early to understand the storm’s full impact on our customers’ operations and the time it will take to return to normalized shipping levels in these areas. Due to this uncertainty, we are unable to quantify any impact on our third-quarter 2017 results at this time.”
Mollins added, “The safety of our employees remains our top priority. Our thoughts are with our employees, customers and others in the Florida region as they prepare for Hurricane Irma.”
Reliance is the largest service center company in North America with a network of more than 300 locations in 39 states, as well as in 12 countries outside the U.S.

Tim Triplett
Read more from Tim TriplettLatest in Steel Mills

SDI profits soar in Q3’25 amid ‘record’ steel shipments
Steel Dynamics Inc.’s third-quarter profits jumped year over year as the company saw “record” quarterly steel shipments

Cliffs leans hard into auto after aluminum supply chain shock
Cleveland-Cliffs executives pointed to growing automotive demand as the engine driving a turnaround at the company.

CMC to strengthen precast position with Foley Products acquisition
Commercial Metals Co. (CMC) will acquire Newman, Ga.-based Foley Products Co. for $1.48 billion, making it the number three US precast concrete producer.

Cliffs posts Q3 loss, but sees upside in slab contract exit and auto deals
Cleveland-Cliffs Inc. pointed to signs of recovery in its third-quarter earnings report on Monday. Improved automotive volumes and a better product mix drove sequential gains, but the steelmaker’s financials continue to bled red.

CMC Q4 profits rise on improved market conditions
CMC reported higher net earnings in its fiscal fourth quarter on "better market conditions" across its segments.