Reliance Steel & Aluminum Co. Acquires GH Metal Solutions, Inc.
LOS ANGELES--(BUSINESS WIRE)-- Reliance Steel & Aluminum Co. (NYSE: RS) announced today that, through its wholly-owned subsidiary Feralloy Corporation, effective October 1, 2012 it completed the acquisition of all the outstanding capital stock of GH Metal Solutions, Inc. (formerly known as Gas House, Inc.), a value added processor and fabricator of carbon steel products located in Fort Payne, Alabama. GH was founded in 1958 and has grown its processing equipment to include flat-bed lasers, tube lasers, torches, shears, automatic band saws, CNC press brakes, coil-fed and hand-fed stampers, robotic and manual welders, and a painting line. For the year 2011, GH's sales were approximately $44 million. GH will operate as a wholly-owned subsidiary of Feralloy Corporation. Current management will remain in place. Terms were not disclosed.
"GH is a high value add processor of metal products that will allow Feralloy to better serve the increasing demands of its diverse customer base. GH has a great reputation in their market for its engineering, customer service and laser operating expertise," said David H. Hannah, Chairman and CEO of Reliance.
About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 220 locations in 38 states and Australia, Belgium, Canada, China, Malaysia, Mexico, Singapore, South Korea, the U.A.E. and the United Kingdom, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
Reliance Steel & Aluminum Co.'s press releases and additional information are available on the Company's web site at www.rsac.com. The Company was named to the 2012 "Fortune500" List and the 2012 Fortune List of "The World's Most Admired Companies."
This release may contain forward-looking statements. Actual results and events may differ materially as a result of a variety of factors, many of which are outside of Reliance Steel & Aluminum Co.'s control. Risk factors and additional information are included in Reliance Steel & Aluminum Co.'s reports on file with the Securities and Exchange Commission, including Reliance Steel & Aluminum Co.'s Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2012 and June 30, 2012.
Reliance Steel & Aluminum Co.
KEYWORDS: United States North America Alabama California