Service Centers
Reliance to buy certain assets of Mississippi toll processor
Written by Ethan Bernard
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
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