Steel Mills
Reliance Acquires Fry Steel
Written by Sandy Williams
December 17, 2019
Reliance Steel & Aluminum Co. plans to acquire Fry Steel Co., a general line and long bar distributor in Santa Fe Springs, Calif.
Fry Steel performs cutting services on its diverse product assortment of over 8,000 types and conditions of long bar product including stainless, alloy, aluminum, carbon, brass and bronze. The acquisition will complement Reliance’s strategy of acquiring high-margin businesses focused on specialty products and further supports its customer and product diversification strategy.
The transaction is expected to close in early 2020, subject to customary closing conditions.
Through many acquisitions and organic growth, Reliance has become the industry’s largest service center organization with more than 300 stocking locations and sales last year totaling $11.5 billion.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nippon/USS file lawsuits against US government, Cliffs, and USW head
Nippon Steel and U.S. Steel have filed two lawsuits, one against the US government and the other against Cleveland-Cliffs and the United Steelworkers (USW) union's leader.
CMC earnings slip on slow construction, low prices
Slow construction activity and low steel prices weighed down profits for Commercial Metals Company.
Leibowitz: Biden block of Nippon-USS deal has broad, mostly bad consequences
As one of my university professors once said (and it’s stuck with me for half a century), “Change is the only permanency.” On Friday, President Biden acted to block the acquisition of United States Steel by Nippon Steel Corp. of Japan, without acknowledging the changes that have already occurred in the steel industry, and which are likely to increase. After more than a year of raging debate, it seems that nobody was convinced by arguments. Nippon’s worker-centered concessions, including safeguarding the jobs of U.S. Steel’s unionized workers and committing to more than $2 billion in investments for the aging plants at Gary, Ind., and the Mon Valley complex in Pennsylvania, were not mentioned in the president’s announcement on Friday.
Burritt hits back after Biden thwarts USS/Nippon deal
The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”
Algoma to see Q4 loss as cold commissioning of EAF project begins
“We continue to make significant progress in our strategic transformation to become one of North America's leading low-carbon steel producers, setting the stage for an exciting 2025,” CEO Michael Garcia said.