Reliance Steel & Aluminum Co. Acquires the Assets of Airport Metals (Australia)
LOS ANGELES--(BUSINESS WIRE)--Reliance Steel & Aluminum Co. (NYSE:RS) announced today that, through its newly-formed subsidiary Bralco Metals (Australia) Pty Ltd, it has acquired substantially all of the assets of Airport Metals (Australia) Pty Ltd, a subsidiary of Samuel Son & Co., Limited. Airport Metals (Australia), based in Melbourne, operates as a stocking distributor of aircraft materials and supplies. Terms were not disclosed.
David H. Hannah, Chairman and Chief Executive Officer of Reliance Steel & Aluminum Co., said “This strategic asset purchase will allow our existing Bralco Metals business to have a physical presence in the Australian market where they currently service aircraft and other key customers from our U.S. operations. This is our first entry into Australia and we are excited to leverage the strong reputation that Airport Metals has built in this area.”
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 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 “Fortune 500” 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 Report on Form 10-Q for the quarter ended March 31, 2012.