LOS ANGELES--(BUSINESS WIRE)--Nov. 1, 2013--
Reliance Steel & Aluminum Co. (NYSE:RS) announced today that, through
its wholly-owned subsidiary American Metals Corporation, it has acquired
all of the capital stock of Haskins Steel Co., Inc. (“Haskins”), located
in Spokane, Washington. Founded in 1955, Haskins processes and
distributes primarily carbon steel and aluminum products of various
shapes and sizes to a diverse customer base in the Pacific Northwest.
Their in-house processing capabilities include shearing, sawing, burning
and forming. Net sales for Haskins were approximately $31.5 million in
the twelve months ended December 31, 2012. Haskins will operate as a
wholly-owned subsidiary of American Metals Corporation. Current
management will remain in place. Terms were not disclosed.
“Haskins will enhance American Metals’ penetration into this geographic
area where American Metals did not previously have a physical presence,”
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 290 locations in 39 states and ten countries
outside of the United States, 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.
This press release contains certain statements that are, or may be
deemed to be, forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may include, but are not limited to, discussions of our
business strategies and our expectations concerning future results of
operations, margins, profitability, liquidity and capital resources. In
some cases, you can identify forward-looking statements by terminology
such as "may," "will," "should," "could," "would," "expect," "plan,"
"anticipate," "believe," "estimate," "predict," "potential" and
"continue," the negative of these terms, and similar expressions.
These forward-looking statements are based on management's estimates,
projections and assumptions as of today’s date that may not prove to be
accurate. Forward-looking statements involve known and unknown risks and
uncertainties and are not guarantees of future performance. Actual
outcomes and results may differ materially from what is expressed or
forecasted in these forward-looking statements as a result of various
important factors, including, but not limited to, those disclosed in
reports we have filed with the Securities and Exchange Commission (the
"SEC"). As a result, these statements speak only as of the date that
they are made, and Reliance undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Important risks and
uncertainties about our business can be found in our Annual Report on
Form 10-K for the year ended December 31, 2012 filed with the SEC.
Source: Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co.