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
Toyota Tsusho America to acquire Radius Recycling for $1.34 billion
The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.
Algoma resumes steel shipments to US, sees opportunity in tariffs
Algoma Steel has resumed shipments to the US, effective Friday, March 14. And the Canadian steelmaker sees a potential opportunity with the current tariff situation.
Algoma posts narrower Q4 loss, braces for tariff impact as US shipments pause
Algoma Steel's net loss narrowed in the fourth quarter vs. a year earlier amid economic uncertainty and tariff-related issues.
Evraz NA refutes report it falsified tests on plate for US military
Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.
Pacific Steel breaks ground on California rebar mill
Pacific Steel Group has broken ground on its Mojave Micro Mill in Southern California.