Reliance Steel & Aluminum Acquires HLN Metal
09/18/2008 - Reliance Steel & Aluminum acquires the assets of the Singapore operation of HLN Metal Centre Pte. Ltd. For a purchase price of approximately $2.6 million.
Reliance Steel & Aluminum Co. has acquired the assets of the Singapore operation of HLN Metal Centre Pte. Ltd. (HLN Metal). The purchase price of the assets, which included inventory, machinery, and equipment, was approximately $2.6 million.
The primary business of Singapore-based HLN Metal is focused on processing and distribution of custom-machined materials as well as the sawing of metal products and components. Following the acquisition, the new business will operate as Reliance Metalcenter Asia Pacific Pte. Ltd. (RMAP), with a primary focus on supplying the electronics, semiconductor, and solar energy markets.
Reliance said this acquisition represents an expansion of its presence in Asia, and also demonstrates the company’s continued commitment to international growth.
Headquartered in Los Angeles, Calif., Reliance Steel & Aluminum is the largest metals service center company in North America. Through a network of more than 200 locations in 39 states plus Belgium, Canada, China, Mexico, South Korea and the UK, 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.
The company was named to the 2008 “Fortune 500” List, the Fortune 2008 List of “America’s Most Admired Companies,” the 2008 Forbes “America’s Best Managed Companies” List, and the 2008 Forbes “Platinum 400 List of America’s Best Big Companies.”
