March 1, 2006 — Reliance Steel & Aluminum’s subsidiary, Precision Strip, Inc., has signed an agreement to acquire assets and business of Flat Rock Metal Processing LLC, Flat Rock, Mich. Terms of the deal were not disclosed.

Upon completion of the acquisition, the two Flat Rock facilities will operate as Precision Strip locations that process and deliver carbon steel, aluminum and stainless steel products on a toll basis, processing the metal for a fee, without taking ownership of the metal.

Thomas A. Compton, President of Precision Strip, Inc., said, "This acquisition will expand our toll processing capabilities and strengthen our geographic presence in the Midwest. Additionally, it allows us to better serve and grow our existing customer base."

The transaction is expected to be completed within 60 days, subject to completion of due diligence.

Precision Strip currently has facilities in Kenton, Middletown, Minster and Tipp City, Ohio; Anderson and Rockport, Ind.; Bowling Green, Ky.; and Talladega, Ala. Precision Strip's customers include steel and aluminum mills as well as companies in the automotive, appliance, metal furniture and capital goods industries.

Headquartered in Los Angeles, Calif., Reliance Steel & Aluminum Co. is one of the largest metals service center companies in the United States. Through a network of more than 100 locations in 32 states as well as Belgium and South Korea, the company provides value-added metals processing services and distributes a full line of over 90,000 metal products. These products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel sold to more than 95,000 customers in various industries.