CHICAGO, Aug. 2, 2024
/PRNewswire/ -- Ryerson Holding Corporation (NYSE:
RYI), a leading value-added processor and distributor of industrial
metals, announced today its acquisition of Production Metals, LLC
("Production Metals"), a distributor of aluminum, stainless, and
specialty steels. Based in Monroe,
Connecticut, Production Metals serves New England and the
surrounding area with bar, tube, sheet, and plate products along
with precision sawing, lasering, and water jet cutting.
"On behalf of all Ryerson Stakeholders, we could not be more
excited in welcoming Production Metals to the Ryerson Family of
Companies, as we have here the opportunity to bolster our
value-added aluminum, stainless, and specialty steel offerings in
the Northeastern United States and
throughout the entire Ryerson network of service centers," said
Eddie Lehner, Ryerson's President
and Chief Executive Officer. "In addition to serving the aerospace,
defense, and semiconductor end markets, Production Metals has a
reputation for service that aligns with Ryerson's commitment to
providing great customer experiences, and their precision cutting
capabilities add to our value-added business. Craig and his team at
Production Metals have proven over the past five-plus years that
creative entrepreneurship is alive and thriving in our industry,
and we look forward to seeing that vision through to its fullest
potential."
Craig Yarde, Chief Executive
Officer of Production Metals, stated, "Our globally sourced network
of mills and suppliers enables Production Metals to provide cost
savings and quick, seamless delivery to customers. As we join the
Ryerson Family of Companies, we are pleased to bring with us our
expertise in aluminum, stainless, and specialty steel
products."
About Ryerson
Ryerson is a leading value-added processor and distributor of
industrial metals, with operations in the
United States, Canada,
Mexico, and China. Founded in 1842, Ryerson has around
4,400 employees in over 110 locations. Visit Ryerson at
www.ryerson.com.
Safe Harbor Provision
Certain statements made in this release and other written or
oral statements made by or on behalf of the Company constitute
"forward-looking statements" within the meaning of the federal
securities laws, including statements regarding our future
performance, as well as management's expectations, beliefs,
intentions, plans, estimates, objectives, or projections relating
to the future. Such statements can be identified by the use of
forward-looking terminology such as "objectives," "goals,"
"preliminary," "range," "believes," "expects," "may," "estimates,"
"will," "should," "plans," or "anticipates" or the negative thereof
or other variations thereon or comparable terminology, or by
discussions of strategy. The Company cautions that any such
forward-looking statements are not guarantees of future performance
and may involve significant risks and uncertainties, and that
actual results may vary materially from those in the
forward-looking statements as a result of various factors. Among
the factors that significantly impact our business are: the
cyclicality of our business; the highly competitive, volatile, and
fragmented metals industry in which we operate; the impact of
geopolitical events; fluctuating metal prices; our indebtedness and
the covenants in instruments governing such indebtedness; the
integration of acquired operations; regulatory and other
operational risks associated with our operations located inside and
outside of the United States; the
influence of a single investor group over our policies and
procedures; work stoppages; obligations under certain employee
retirement benefit plans; currency fluctuations; and consolidation
in the metals industry. Forward-looking statements should,
therefore, be considered in light of various factors, including
those set forth above and those set forth under "Risk Factors" in
our most recent our annual report on Form 10-K and in our other
filings with the Securities and Exchange Commission. Moreover, we
caution against placing undue reliance on these statements, which
speak only as of the date they were made. The Company does not
undertake any obligation to publicly update or revise any
forward-looking statements to reflect future events or
circumstances, new information or otherwise.
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SOURCE Ryerson Holding Corporation