TORONTO, June 4, 2024
/PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has
received a no-action letter from the Canadian Competition Bureau
regarding our previously announced transaction with Samuel, Son
& Co., Limited ("Samuel"), whereby we agreed to acquire seven
service center locations from Samuel. Therefore, subject to
completion of customary closing conditions, we expect to close the
full transaction in the third quarter of 2024.
John Reid, President and CEO of
Russel Metals commented, "We are pleased to have obtained
regulatory clearance, as we think the acquisition will be
favourable for our customers, suppliers, employees and the
communities in which we operate. We are now working on the
next stage of the transaction, as we plan for closing and look
forward to welcoming the Samuel employees into the Russel
family."
About Russel Metals Inc.
Russel Metals is one of the largest metals distribution
companies in North America with a
growing focus on value-added processing. It carries on
business in three segments: metals service centers, energy field
stores and steel distributors. Its network of metals service
centers carries an extensive line of metal products in a wide range
of sizes, shapes and specifications, including carbon hot rolled
and cold finished steel, pipe and tubular products, stainless
steel, aluminum and other non-ferrous specialty metals. Its
energy field stores carry a specialized product line focused on the
needs of energy industry customers. Its steel distributors
operations act as master distributors selling steel in large
volumes to other steel service centers and large equipment
manufacturers mainly on an "as is" basis.
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Website: www.russelmetals.com
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SOURCE Russel Metals Inc.