Service Centers

Reliance to buy certain assets of Mississippi toll processor

July 15, 2024

Reliance Inc. has reached an agreement to buy certain assets of Ferragon Corp.’s FerrouSouth division, a toll processing operation based in Iuka, Miss.

Terms of the transaction were not disclosed. Scottsdale, Ariz.-based service center Reliance noted the deal is expected to close within the next 30 days, subject to customary closing conditions.

The FerrouSouth operations will run as a division of Feralloy Corp., which is a wholly owned subsidiary of Reliance.

“The addition of FerrouSouth’s tolling operations helps expand our toll processing capabilities and provides additional capacity to Feralloy through its existing operations in the Southeastern United States,” Karla Lewis, Reliance president and CEO, said in a statement on Monday.

Besides offering flat-rolled steel processing, FerrouSouth supplies logistics services, including shipping and warehousing solutions, within the Southeastern market.

From its Chicago headquarters, Feralloy operates a network of 11 steel processing centers throughout the US and Mexico.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.