TORONTO (STL.News) Russel Metals Inc. (TSX: RUS) announces that it has closed its acquisition of a group of companies that operate as Boyd Metals (“Boyd”). Boyd operates five service centers in Fort Smith (Arkansas), Little Rock (Arkansas), Joplin (Missouri), Oklahoma City (Oklahoma) and Tyler (Texas).
John Reid, President and CEO of Russel, commented, “We are excited to have the Boyd business as part of our operating platform as we welcome Tom Kennon, Brian Newman, and all of the Boyd employees to the Russel Metals family.”
About Russel Metals Inc.
Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy products, and steel distributors. Its network of metals service centers has an extensive line of metal products in a wide range of sizes, shapes, and specifications, including carbon hot rolled and cold-finished steel, pipe and tubular products, stainless steel, aluminum, and other non-ferrous specialty metals. Its energy products operations carry a specialized product line focused on the needs of energy industry customers. Its steel distributors operate as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an “as is” basis.
SOURCE: Russel Metals, Inc.