Reliance Operations Unscathed by Harvey

Friday, September 08, 2017 4:38 PM Written by 

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.”

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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.

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Read 292 times Last modified on Sunday, 10 September 2017 19:49
Tim Triplett

Tim Triplett is the executive editor of Steel Market Update. Tim joined SMU after 20 years as editor-in-chief of Metal Center News Magazine. A journalist and business writer for 40 years, Tim holds an MBA from Aurora University. Tim can be reached at Tim@SteelMarketUpdate.com or by phone at 630-513-5916.

Website: https://www.steelmarketupdate.com
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