LOS ANGELES--(BUSINESS WIRE)--
Reliance Steel & Aluminum Co. (NYSE:RS) announced today that, through
its wholly-owned subsidiary Precision Strip, Inc., it has completed the
acquisition of the assets of the Worthington Steel Vonore plant, a
processing facility owned by Worthington Industries, Inc. (NYSE:WOR).
Terms were not disclosed. Worthington Industries acquired the assets of
the Vonore, Tennessee plant in early 2011.
The Vonore plant will operate as a Precision Strip, Inc. location that
will toll process and deliver carbon steel, aluminum and stainless steel
products without taking ownership of the metal. Precision Strip will now
operate twelve tolling facilities throughout the United States and
Mexico.
Joseph P. Wolf, President of Precision Strip, Inc., said, “The addition
of the Vonore location to our existing footprint of facilities allows us
to better service our customer base in an important geographic area of
the country. By acquiring the existing assets we were able to more
quickly establish ourselves in this growing market.”
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California,
is the largest metals service center company in North America. Through a
network of more than 220 locations in 38 states and Belgium, Canada,
China, Malaysia, Mexico, Singapore, South Korea, the U.A.E. and the
United Kingdom, the Company provides value-added metals processing
services and distributes a full line of over 100,000 metal products to
more than 125,000 customers in a broad range of industries.
Reliance Steel & Aluminum Co.’s press releases and additional
information are available on the Company’s web site at www.rsac.com.
The Company was named to the 2011 “Fortune 500” List and the 2012 Fortune
List of “The World’s Most Admired Companies.”
This release may contain forward-looking statements. Actual results and
events may differ materially as a result of a variety of factors, many
of which are outside of Reliance Steel & Aluminum Co.’s control. Risk
factors and additional information are included in Reliance Steel &
Aluminum Co.’s reports on file with the Securities and Exchange
Commission, including Reliance Steel & Aluminum Co.’s Annual Report on
Form 10-K for the year ended December 31, 2011.
Reliance Steel & Aluminum Co.
Kim P. Feazle
Investor
Relations
713-610-9937
213-576-2428
kfeazle@rsac.com
investor@rsac.com
Source: Reliance Steel & Aluminum Co.