Samuel Announces Agreement to Acquire Doral Steel

Wayne Bassett, President and CEO of Samuel, Son & Co., Limited and Cam Smith Sr., Chairman and founder of Doral Steel Inc., are pleased to announce the completion of an agreement for the Samuel acquisition of Doral Steel. The transaction will close on November 30, 2011.

Doral is a major supplier of carbon flat rolled products in all regions of North America. Doral has a 120,000 square foot facility and operates four slitters in Toledo Ohio, has a 58,000 square foot facility operating two slitters in Clinton, Tennessee, and has an exclusive processing agreement for use of a slitter and cut to length line in Monterrey, Mexico.

"Doral Steel is an excellent addition to our existing Service Center operations" said Wayne Bassett, adding that "Doral Steel is a 36 year old family owned business that focuses on service and quality and has a culture very similar to that of Samuel."

"Samuel is an excellent fit with Doral and will provide the resources necessary to allow Doral and its' employees to grow" added Cam Smith Sr.

Doral Steel will operate as a stand-alone business. Cam Smith Jr. will continue as President of Doral Steel and will report to Al Bromley, President of USA Service Centers for Samuel, Son and Co., Limited. Mike Crooks will continue in the position of Executive Vice President, Doral Steel and will report to Cam Smith Jr.

We welcome all employees of Doral Steel to Samuel Son & Co., Limited and are looking forward to jointly growing our carbon flat rolled business.

About Us

Samuel, Son & Co., Limited operates business units associated with the distribution, transportation, processing and manufacturing of metals and industrial products. We provide customer solutions for all types of metals and manufactured products. Samuel was founded in 1855 and currently is the largest family owned metals processor and distributor in North America. Samuel has over 100 strategically located steel service centers and manufacturing facilities. The customers we serve vary in size from leading automotive manufacturers to specialized product designers; yet, each one is treated with the same superior customer service that you would expect from a 5th generation, family run business.

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