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Slide #39. Reliance Steel & Aluminum Co. — GH Metal Solutions, Inc.
Reliance Steel & Aluminum Co. (NYSE:RS)
GH Metal Solutions, Inc.
Reliance Steel & Aluminum Co. announced that, through its wholly-owned subsidiary Feralloy Corporation, it has reached an agreement to purchase all of the outstanding capital stock of GH Metal Solutions, Inc. (formerly known as Gas House, Inc.), a value added processor and fabricator of carbon steel products located in Fort Payne, Alabama. Founded in 1958, GH's processing equipment includes flat-bed lasers, tube lasers, torches, shears, automatic band saws, CNC press brakes, coil-fed and hand-fed stampers, and robotic and manual welders. For the year 2011, annual sales were approximately $44M. The transaction is expected to be finalized within 30 days, subject to customary closing conditions. Terms were not disclosed.
Reliance Steel & Aluminum is a metals service center company. Co. provides metals processing services and distributes a line of metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products, to its customers in a range of industries, including general manufacturing, non-residential construction (including infrastructure), transportation (rail, truck trailer and shipbuilding), aerospace and defense, energy (oil and gas), electronics and semiconductor fabrication, and heavy industry (agricultural, construction and mining equipment). Co. also services the auto industry, primarily through its toll processing operations.
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