Russel Metals to Acquire Alberta Industrial Metals
05/28/2012 - Russel Metals has signed an agreement to acquire Alberta Industrial Metals Ltd., a metals distribution and processing service center located in Red Deer, Alberta.
Russel Metals Inc. has signed an agreement to acquire Alberta Industrial Metals Ltd., a metals distribution and processing service center located in Red Deer, Alberta.
"We are extremely pleased to add Alberta Industrial Metals to our service center operations,” said Brian Hedges, President and CEO of Russel Metals. “Alberta Industrial Metals is a market leader in their region and their cut-to-length processing capabilities complement our Alberta operations. The current management team will continue to lead Alberta Industrial Metals."
The acquisition, made at a total purchase price of $30 million, includes the operating assets and as well as the service center’s land and buildings. Revenues for the company are approximately $30 million.
John Reid, Vice President Operations, Service Centers of Russel Metals, continued, "We will integrate our Russel Metals operations in Red Deer with Alberta Industrial Metals and the combined talents of the two operations will enable us to provide customers with a complete range of products. The Alberta Industrial Metals flat rolled processing capabilities will enhance our Alberta operations."
Russel Metals, one of the largest metals distribution companies in North America, operates in three metals distribution segments: metals service centers, energy tubular products and steel distributors. Business is conducted under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier Richler, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Siemens Laserworks, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.
