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Reliance Completes Acquisition of Worthington Steel Vonore Assets
05/02/2012 - Reliance Steel & Aluminum Co., through its wholly owned subsidiary Precision Strip, Inc., has completed the acquisition of the assets of the Worthington Steel Vonore plant, a processing facility owned by Worthington Industries, Inc.
Reliance Steel & Aluminum Co., through its wholly owned subsidiary Precision Strip, Inc., has completed the acquisition of the assets of the Worthington Steel Vonore plant, a processing facility owned by Worthington Industries, Inc. Terms were not disclosed.
Worthington Industries acquired the assets of the Vonore, Tenn., plant in early 2011.
The Vonore plant will operate as a Precision Strip, Inc. location that will toll process and deliver carbon steel, aluminum, and stainless steel products without taking ownership of the metal. Precision Strip will now operate 12 tolling facilities throughout the United States and Mexico.
Joseph P. Wolf, President of Precision Strip, Inc., said, “The addition of the Vonore location to our existing footprint of facilities allows us to better service our customer base in an important geographic area of the country. By acquiring the existing assets, we were able to more quickly establish ourselves in this growing market.”
Reliance Steel & Aluminum Co., headquartered in Los Angeles, Calif., 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 UAE, 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.
