Steel Mills
Reliance to Acquire Tubular Steel Inc.
Written by Sandy Williams
November 30, 2015
Reliance Steel & Aluminum has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel, Inc., a distributor of carbon, alloy and stainless steel pipe, tubing and bar products.
Tubular Steel is headquartered in St. Louis, Missouri and has eight service center locations across the U.S. TSI net sales for 2014 were approximately $200 million. The acquisition will broaden Reliance’s product offering and support the company’s diversification strategy.
Terms of the purchase were not disclosed. The transaction is expected to close in early 2016.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nippon’s Mori meets with Pa. Gov. Shapiro: Report
Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Mexican court orders sale of officially bankrupt AHMSA
After failing to reach agreements with its creditors, Altos Hornos de México (AHMSA) has been formally declared bankrupt by a Mexican bankruptcy court.