LOS ANGELES, Nov. 02, 2018 (GLOBE NEWSWIRE) — Reliance Steel & Aluminum Co. (NYSE: RS) announced that it has acquired all of the membership interests of All Metals Holding, LLC, (“All Metals”) including its operating subsidiaries All Metals Processing & Logistics, Inc. (“AMPL”) and All Metals Transportation and Logistics, Inc. (“AMTL”) effective November 1, 2018. AMPL, headquartered in Spartanburg, South Carolina with an additional facility in Cartersville, Georgia, specializes in toll processing for automotive, construction, appliance and other diverse-end markets. AMTL provides value-added transportation and logistics for metal products from six strategically located terminals throughout the southeastern United States. For the fiscal year ended December 31, 2017, All Metals’ combined net sales were approximately million. The terms of the transaction were not disclosed.
“Our acquisition of All Metals represents our third acquisition in 2018,” commented Gregg Mollins, President and Chief Executive Officer of Reliance. “All Metals fits with our disciplined growth strategy and meets our criteria of acquiring high quality businesses that are immediately accretive to our earnings. Importantly, All Metals’ experienced management team has developed a business that is focused on high return, toll processing and logistics services that further strengthens our already solid position in these areas. We are excited to welcome All Metals to the Reliance family of companies and we look forward to capitalizing on the growth opportunities All Metals presents us.”
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 40 states and thirteen countries outside of the United States, Reliance 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 focuses on small orders with quick turnaround and increasing levels of value-added processing. In 2017, Reliance’s average order size was ,740, approximately 48% of orders included value-added processing and approximately 40% of orders were delivered within 24 hours. Reliance Steel and Aluminum Co.’s press releases and additional information are available on the Company’s website at www.rsac.com.
Forward-Looking Statements
This press release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, discussions of Reliance’s industry and its end markets, its business strategies, its expectations regarding growth, its ability to increase stockholder value, and its expectations concerning future demand and metals pricing and the Company’s results of operations, margins, profitability, impairment charges, taxes, liquidity, litigation matters and capital resources. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and “continue,” the negative of these terms, and similar expressions.
These forward-looking statements are based on management’s estimates, projections and assumptions as of today’s date that may not prove to be accurate. Forward-looking statements involve known and unknown risks and uncertainties and are not guarantees of future performance. Actual outcomes and results may differ materially from what is expressed or forecasted in these forward-looking statements as a result of various important factors, including, but not limited to, those disclosed in reports Reliance has filed with the Securities and Exchange Commission (the “SEC”). As a result, these statements speak only as of the date that they are made, and Reliance disclaims any and all obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Important risks and uncertainties about Reliance’s business can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 and in any of the Company’s subsequently filed Quarterly Reports on Form 10-Q.
CONTACT:
Brenda Miyamoto
Investor Relations
(213) 576-2428
[email protected]
or Addo Investor Relations
(310) 829-5400
