Reliance Steel & Aluminum Co. Agrees to Acquire Tubular Steel, Inc.
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LOS ANGELES – Reliance Steel and Aluminum Co. (NYSE: RS) announced today that it has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel, Inc. ("TSI"), a distributor and processor of carbon, alloy and stainless steel pipe, tubing and bar products. Founded in 1953 and headquartered in St. Louis, MO, TSI provides national coverage to its customers from its eight locations across the United States. The addition of TSI broadens Reliance's product breadth and supports its customer diversification strategy. For the year ended December 31, 2014, TSI's net sales were approximately $200 million. The transaction is expected to close in early 2016, subject to regulatory approval and customary closing conditions. The terms of the transaction were not disclosed.
About Reliance Steel Aluminum Co.
Reliance Steel Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and twelve countries outside of the United States, 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. Reliance Steel & Aluminum Co.'s press releases and additional information are available on the Company's web site at www.rsac.com.
CONTACT:
Brenda Miyamoto
Investor Relations
(213) 576-2428
investor@rsac.com
or Addo Communications
(310) 829-5400
SOURCE Reliance Steel & Aluminum Co.
Web Site: www.rsac.com Â
