Steel Products
Reliance Steel & Aluminum Acquires KMS Operations
Written by Sandy Williams
August 1, 2018
Reliance Steel & Aluminum announced it has completed the acquisition of KMS Fab, LLC and KMS South, Inc. The KMS companies specialize in precision sheet metal fabrication using a variety of metals ranging from prototypes to large production runs.
The facilities are located in Luzerne, Pa., and West Columbia, S.C., and employ over 200 employees. KMS fabrication methods include laser cutting, stamping, turret punching, machining, powder coating and welding. For the fiscal year ended Dec. 31, 2017, the KMS Companies’ combined net sales were $23.3 million.
“Our acquisition of the KMS Companies fits well with our growth strategy of acquiring and investing in businesses that perform high levels of value-added processing,” commented Gregg Mollins, President and Chief Executive Officer of Reliance. “The KMS Companies have a longstanding record of investing in state-of-the-art technologies to provide customers with timely delivery of the highest quality parts, which aligns with Reliance’s core business principles. We are thrilled to welcome the KMS team to the Reliance family of companies.”
{loadposition reserved_message}
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
Borusan plans $68M upgrade to Florida facilities
The announcement comes a little more than a year after Borusan acquired Panama City, Fla.-based Berg Pipe for $162 million.
Rig count update: US activity stable, Canada slips
The number of oil and gas rigs operating in the US remained unchanged this week for the second consecutive week, while Canadian activity declined, according to the latest data released from Baker Hughes.
SMU market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
Domestic, offshore CRC prices steady
The price spread between US-produced cold-rolled (CR) coil and offshore products on a landed basis was unchanged in the week ended Dec. 20.
SMU Survey: Mill lead times contract slightly, remain short
Steel mill production times have seen very little change since September, according to buyers participating in our latest market survey.