Reliance, Inc. Completes Acquisition of American Alloy Steel, Inc.
2024年4月3日 - 7:50PM
Reliance, Inc. (NYSE: RS) announced that effective April 1, 2024,
it has completed its acquisition of all of the outstanding equity
interests and related real estate assets of American Alloy Steel,
Inc. (“American Alloy”). Headquartered in Houston, Texas and
founded in 1971, American Alloy is a leading distributor of
specialty carbon and alloy steel plate and round bar, including
pressure vessel quality (PVQ) material. The acquisition of American
Alloy increases Reliance’s value-added processing and fabrication
capabilities and expands the Company’s specialty carbon steel plate
product portfolio.
This transaction fits within Reliance’s acquisition strategy of
acquiring immediately accretive companies with strong management
teams. The current American Alloy team, including management, will
remain in place. For the twelve months ended December 31, 2023,
annual net sales for American Alloy were approximately $310
million. The terms of the transaction were not disclosed.
About Reliance, Inc.Founded in 1939, Reliance,
Inc. (NYSE: RS) is a leading global diversified metal solutions
provider and the largest metals service center company in North
America. Through a network of more than 315 locations in 40 states
and 12 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 value-added processing services. In 2023,
Reliance’s average order size was $3,210, approximately 51% of
orders included value-added processing and approximately 40% of
orders were delivered within 24 hours. Reliance, Inc.’s press
releases and additional information are available on the Company’s
website at reliance.com.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by words such as “expect,”
“anticipate,” “believe,” and similar words. These forward-looking
statements may include statements concerning Reliance’s acquisition
of American Alloy and discussions of Reliance’s future performance.
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 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 United States Securities and Exchange
Commission (the “SEC”). Risks and uncertainties related to the
American Alloy transaction include, but are not limited to, the
possibility that the expected benefits of the transaction may not
materialize as expected; disruption to existing business and
operational relationships; and the failure to successfully
integrate the acquired company. These forward-looking statements
are based on management's expectations and assumptions as of
today’s date and Reliance disclaims any obligation to publicly
update or revise any forward-looking statements. Important risks
and uncertainties about Reliance’s business can be found in “Item
1A. Risk Factors” of the Company’s Annual Report on Form 10-K for
the year ended December 31, 2023 filed with the SEC.
CONTACT:
(213) 576-2428investor@reliance.com
or Addo Investor Relations(310) 829-5400
Reliance (NYSE:RS)
過去 株価チャート
から 4 2024 まで 5 2024
Reliance (NYSE:RS)
過去 株価チャート
から 5 2023 まで 5 2024