Metals USA Holdings to Acquire Eagle Steel Affiliate
11/23/2010 - Metals USA Holdings has entered into an agreement to purchase an affiliate of Eagle Steel Products that is to be named Ohio River Metal Services (ORMS).
Metals USA Holdings Corp. has entered into an agreement to purchase an affiliate of Eagle Steel Products, Inc. The new facility will be named Ohio River Metal Services, Inc. (ORMS).
Located on the banks of the Ohio River in Jeffersonville, Ind., Eagle and ORMS operate a first-class flat rolled metal service center providing high quality processing and warehousing services to a broad range of customers.
"ORMS complements Metals USA's existing metals service center business in Jeffersonville and further expands the products and services our Flat Rolled and Non-Ferrous Group can provide customers throughout the Ohio Valley," stated Lourenco Goncalves, Chairman, President and CEO of Metals USA Holdings Corp.
"ORMS is Metals USA's second acquisition since our IPO in April of 2010, and further demonstrates our ability to execute our growth strategy," Goncalves added.
ORMS will continue to operate under President Charles R. Moore from its state-of-the-art, 320,000 square foot facility which is served by barge, rail and truck. Eagle Steel Products, Inc. will continue to operate from its Louisville, Ky., facility under its CEO and majority owner, Shirley Ohta.
The transaction is expected to close in late December, 2010.
Metals USA provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, non-ferrous metals, and building products markets.
