Steel Products
Reliance Steel & Aluminum Acquires KMS Operations
Written by Sandy Williams
August 1, 2018
Reliance Steel & Aluminum announced it has completed the acquisition of KMS Fab, LLC and KMS South, Inc. The KMS companies specialize in precision sheet metal fabrication using a variety of metals ranging from prototypes to large production runs.
The facilities are located in Luzerne, Pa., and West Columbia, S.C., and employ over 200 employees. KMS fabrication methods include laser cutting, stamping, turret punching, machining, powder coating and welding. For the fiscal year ended Dec. 31, 2017, the KMS Companies’ combined net sales were $23.3 million.
“Our acquisition of the KMS Companies fits well with our growth strategy of acquiring and investing in businesses that perform high levels of value-added processing,” commented Gregg Mollins, President and Chief Executive Officer of Reliance. “The KMS Companies have a longstanding record of investing in state-of-the-art technologies to provide customers with timely delivery of the highest quality parts, which aligns with Reliance’s core business principles. We are thrilled to welcome the KMS team to the Reliance family of companies.”
{loadposition reserved_message}

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.

Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."

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.

CRU: Construction of pilot plant for green steel process starts
Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.

Rig count increases in the US and in Canada
Oil and gas drilling activity increased this week in the US and Canada for the third consecutive week, according to the latest Baker Hughes rig count data. US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.