Steel Mills
Reliance Acquires Fry Steel
Written by Sandy Williams
December 17, 2019
Reliance Steel & Aluminum Co. plans to acquire Fry Steel Co., a general line and long bar distributor in Santa Fe Springs, Calif.
Fry Steel performs cutting services on its diverse product assortment of over 8,000 types and conditions of long bar product including stainless, alloy, aluminum, carbon, brass and bronze. The acquisition will complement Reliance’s strategy of acquiring high-margin businesses focused on specialty products and further supports its customer and product diversification strategy.
The transaction is expected to close in early 2020, subject to customary closing conditions.
Through many acquisitions and organic growth, Reliance has become the industry’s largest service center organization with more than 300 stocking locations and sales last year totaling $11.5 billion.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.