Reliance Steel & Aluminum Co. Acquires the Assets of Airport Metals
LOS ANGELES–(BUSINESS WIRE)–Reliance Steel & Aluminum Co. (NYSE:RS) announced today that, through
its newly-formed subsidiary Bralco Metals (Australia) Pty Ltd, it has
acquired substantially all of the assets of Airport Metals (Australia)
Pty Ltd, a subsidiary of Samuel Son & Co., Limited. Airport Metals
(Australia), based in Melbourne, operates as a stocking distributor of
aircraft materials and supplies. Terms were not disclosed.
David H. Hannah, Chairman and Chief Executive Officer of Reliance Steel
& Aluminum Co., said “This strategic asset purchase will allow our
existing Bralco Metals business to have a physical presence in the
Australian market where they currently service aircraft and other key
customers from our U.S. operations. This is our first entry into
Australia and we are excited to leverage the strong reputation that
Airport Metals has built in this area.”
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 220 locations in 38 states and Belgium, Canada,
China, Malaysia, Mexico, Singapore, South Korea, the U.A.E. and the
United Kingdom, 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.
The Company was named to the 2012 “Fortune 500” List and the 2012
Fortune List of “The World’s Most Admired Companies.”
This release may contain forward-looking statements. Actual results and
events may differ materially as a result of a variety of factors, many
of which are outside of Reliance Steel & Aluminum Co.’s control. Risk
factors and additional information are included in Reliance Steel &
Aluminum Co.’s reports on file with the Securities and Exchange
Commission, including Reliance Steel & Aluminum Co.’s Annual Report on
Form 10-K for the year ended December 31, 2011 and Quarterly Report on
Form 10-Q for the quarter ended March 31, 2012.