Continuing its aggressive growth through acquisition, Reliance Steel & Aluminum Co. has purchased Rotax Metals, Inc., a metals service center specializing in copper, bronze and brass alloys. This is the third deal announced by Reliance just this month, extending its reach in various regions and product categories. Founded in 1947 and located in Brooklyn, New […]
Reliance Steel & Aluminum Co. announced two more acquisitions this month, bringing the total to 70 since the service center giant’s IPO in 1994. The latest additions to Reliance’s portfolio are Admiral Metals Servicecenter Co. Inc. and Nu-Tech Precision Metals Inc. Admiral Metals, Woburn, Mass., is a distributor of nonferrous metal products serving the semiconductor, […]
Alro Steel has acquired Ace Steel, a Roanoke, Va.-based service center and distributor of steel and plastic products. The deal will grow Alro’s customer base while providing improved service for cut-to-size metals and plastics, the company said. Established in 1992 as a full-service metal distributor, Ace Steel serves the Roanoke Valley in Virginia. The acquisition strengthens […]
Mill Steel Co., one of the nation’s largest distributors of flat-rolled carbon steel, now offers its full line of flat-rolled carbon steel products for purchase through its e-commerce website. The website features 65,000+ tons of steel available for purchase with full physical and chemical certifications provided for each coil, the company said. The user-friendly e-commerce […]
Canadian metals distributor and industrial products manufacturer Samuel, Son & Co., Ltd., appointed Brian Cooke as incoming president of its Manufacturing Division. In the planned transition, Cooke succeeds Rod Crawford, who previously announced his plan to retire in June 2022. The two will work closely together, the company said, to ensure a successful transition until […]
Canadian distributor Russel Metals finalized its purchase of Boyd Metals, expanding its U.S. footprint. The deal for the Fort Smith, Ark.,-based service center cost $110 million and covers all of Boyd’s assets, the company said. Boyd operates five steel service centers located in Arkansas, Missouri, Oklahoma, and Texas. They deliver a product mix primarily comprised of […]
Friedman Industries reported the most profitable quarter in the company’s history with earnings for its fiscal second quarter ended Sept. 30 of $13.2 million on sales of $92.6 million. That’s a big turnaround from the same quarter last year when the company lost $250,000 on sales of $24.9 million due to the pandemic. Results for […]
Federal Steel Supply, a stocking distributor of carbon steel and chrome-moly tubular products, has acquired Process Piping Materials, a distributor of industrial pipe, fittings, valves and flanges. Terms of the deal were not released. PPM’s founders will remain active in the business. Federal Steel Supply is headquartered in Chesterfield, Mo., with a distribution facility in […]
Alro Steel Corp. will expand its operations into Iowa with the construction of a new regional distribution center, according to local media reports. The Jackson, Mich.-based metals and plastics distributor is planning to build a nearly 200,000-square-foot facility at an estimated cost of $20 million. The plant is expected to bring roughly 40 new jobs to […]
Owen Industries, a service center, processor and fabricator of steel sheet and plate based in Carter Lake, Iowa, has acquired the assets of Omaha Steel, a steel foundry in Wahoo, Neb. The acquisition includes a newly built foundry facility that gives Owen Industries the opportunity to expand its offerings into the design and production of […]
Canada’s Russel Metals reported “an exceptionally strong third quarter built on the back of a really strong Q2.” Company executives on Friday’s earnings call pointed to the various moves the company has made in the past two years to position it to take advantage of the prevailing market conditions. Most recent was this week’s announcement […]
Canadian distributor Russel Metals has expanded its U.S. footprint by agreeing to acquire Arkansas-based service center Boyd Metals. The deal, valued at $110 million, includes all five of Boyd’s facilities. Boyd’s operations in Arkansas, Missouri, Oklahoma, and Texas deliver a product mix primarily comprised of carbon steel products. The company also offers stainless steel, aluminum and other industrial […]
The management team at Ryerson reported solid third-quarter results on Thursday and expressed optimism about underlying demand in the fourth quarter and into next year. “The pricing environment is still healthy and strong underpinned by good demand – demand deferred, not denied – and we see that continuing into 2022,” Ryerson President and CEO Eddie […]
Klöckner & Co. SE posted record results in the third quarter, outperforming a previous record in the second. The company also delivered its highest quarterly operating income since its IPO in 2006. Klöckner credited the unparalleled third-quarter results to “considerably higher” selling prices. The Duisburg, Germany-based service center, which has significant operations in the U.S., […]
This year’s third quarter was the best quarter on record for Reliance Steel & Aluminum Co., the nation’s largest service center organization. Reliance reported gross profit of $1.21 billion on sales of $3.85 billion in Q3. “Our resilient business model, favorable metal pricing trends and excellent execution combined to produce another quarter of record-setting financial […]
ThyssenKrupp Materials Services plans to build a greenfield service center on the campus of Steel Dynamics Inc.’s new steel mill in Sinton, Texas. The new location is part of a nearly $82 million (€70 million) North American expansion plan launched by the service center and distribution wing of the Essen, Germany-based steel company. Approximately $33 […]
In its latest acquisition, Triple-S Steel Supply Co., Houston, has purchased BMG Metals, a steel distributor and metal superstore with five stocking locations throughout Virginia and Maryland. Steve Briggeman, a 21-year veteran of Triple-S, has been promoted to regional vice president. A resident of Knoxville, Tenn., Briggeman will oversee the new BMG business in addition […]
Klöckner & Co. SE has secured a distribution partnership with H2 Green Steel (H2GS), bolstering its efforts to become a pioneer in the sustainable steel business. The collaboration guarantees Klöckner access to substantial volumes of “green steel” from the Swedish steelmaking start-up. H2GS is building a large-scale, hydrogen-based steel plant in northern Sweden with the goal […]
Central Steel & Wire, a subsidiary of Ryerson Holding Corp., has signed a lease for a 900,000-square-foot service center facility in University Park, Ill., that will become CSW’s headquarters and operational hub. Strategically located just south of Chicago, the build-to-suit facility will allow the company to cover a broad geographical area. “This new facility represents an […]
In its fifth acquisition in the past four years, Olympic Steel Inc. has acquired the assets of Shaw Stainless & Alloy, Inc. Terms of the all-cash purchase were not disclosed. The deal includes Shaw’s stainless steel distribution and fabrication businesses as well as its architectural and barrier defense businesses. Shaw will be incorporated into Olympic […]
Samuel, Son & Co., Limited, is constructing a new automotive processing facility in Querétaro, Mexico. This new operation, along with an existing automotive facility in Monterrey, will position Samuel as a leading metals processor to global automotive brands and their supply chain partners operating in Mexico, the company said. Samuel expects to complete construction of […]
Alro Steel Corp. has acquired Metal Stock, a Philadelphia-based service center and distributor of steel and plastic products. This asset purchase will allow Alro to grow its customer base while providing improved service for cut-to-size metals and plastics, the company said. Established in 1994 as a full-service metal distributor, Metal Stocks serves Eastern Pennsylvania, New Jersey, […]
Nucor Corp. has acquired Hannibal Industries, Inc., a national provider of steel racking solutions headquartered in Los Angeles, Calif. “We are excited to officially welcome our Hannibal teammates as part of the Nucor team,” said Giff Daughtridge, president of Sheet and Tubular Products. “Adding steel racking solutions to our product portfolio expands our ability to […]
Leeco Steel, which claims to be the largest supplier of steel plate in North America, has launched a new ecommerce website, Leeco Pro. Leeco Pro is available for current Leeco customers and allows users to browse and purchase 12 core grades of steel plate across 32 thicknesses and in pattern sizes. The platform will offer a […]
Willbanks Metals is upgrading the plate processing capabilities at its Fort Worth, Texas, facility with a new heavy gauge cut-to-length line and stretcher leveler. The new line, from Red Bud Industries, “is an exciting addition giving our current and future customers the flattest plate product in the market,” said Ryan Letz, Willbanks’ co-owner and CCO. The […]
Lapham-Hickey Steel Corp. has acquired Rebel Steel, a service center specializing in slitting of cold-rolled and coated steels based in Nashville, Tenn. “The acquisition of Rebel Steel is an exciting addition to our existing footprint. Having brick and mortar with rail access in the Nashville area will allow us to competitively service the Tennessee and […]
Klöckner & Co. SE posted its best quarterly results since its stock launch more than 15 years ago. The company attributed its record-setting second-quarter results to the surge in steel prices, a 60% increase in sales and a strong performance from its digital operations. The Duisburg, Germany-based service center, which has significant operations in the […]
Toronto-based Russel Metals, Canada’s second largest metals distributor, posted its best second-quarter earnings ever off strong market conditions, the company said. Driven by rising demand and constrained supply chains, pre-tax earnings totaled $178 million, up 38% from Q1 on sales of $1.07 billion. That compares to EBITDA of $32 million on sales of $588 million in […]
Alro Steel Vice Chairman Barry Glick died Monday, June 21, in Boca Raton, Fla., at age 70. Barry’s uncle Al Glick and father Robert Glick founded Alro Steel in 1948 in Jackson, Mich. Barry began his career with Alro in 1977 and served as vice chairman for 27 years. “It is with a heavy heart […]
Triple-S Steel Holdings, Inc., Houston, has acquired Los Angeles-based Rolled Steel Products and E&E Steel. The two companies, founded in 1956 and under the ownership of the Alperson family since 1973, supply precision strip and flat-rolled products to a range of customers in Southern California. Terms of the deal were not disclosed. “We are very excited to continue […]