EXHIBIT 99.1
Published on
Exhibit 99.1
Reliance Steel & Aluminum Co.
Completes Acquisition of
Flat Rock Metal Processing L.L.C.
LOS ANGELES--(BUSINESS WIRE)--March 27, 2006--Reliance Steel &
Aluminum Co. (NYSE:RS) announced today that its subsidiary, Precision
Strip, Inc., has completed its previously disclosed acquisition of
certain assets and business of Flat Rock Metal Processing L.L.C. based
in Flat Rock, Michigan. Terms were not disclosed. Flat Rock was
founded in 2001 and is a privately held, toll processing company with
facilities in Perrysburg, Ohio, and Eldridge, Iowa.
The two Flat Rock facilities will operate as Precision Strip
locations that process and deliver carbon steel, aluminum and
stainless steel products on a "toll" basis, processing the metal for a
fee, without taking ownership of the metal. Precision Strip currently
has facilities in Kenton, Middletown, Minster and Tipp City, Ohio;
Anderson and Rockport, Indiana; Bowling Green, Kentucky; and
Talladega, Alabama. Precision Strip's customers include steel and
aluminum mills as well as companies in the automotive, appliance,
metal furniture and capital goods industries.
Reliance Steel & Aluminum Co., headquartered in Los Angeles,
California, is one of the largest metals service center companies in
the United States. Through a network of more than 100 locations in 32
states and Belgium, China and South Korea, the Company provides
value-added metals processing services and distributes a full line of
over 90,000 metal products. These products include galvanized,
hot-rolled and cold-finished steel; stainless steel; aluminum; brass;
copper; titanium; and alloy steel sold to more than 95,000 customers
in various industries.
Reliance and Earle M. Jorgensen Company filed an SEC Form S-4
Registration Statement and a preliminary proxy statement/prospectus on
February 7, 2006, as amended. Investors and security holders are urged
to read the proxy statement/prospectus that has been sent to Jorgensen
stockholders regarding the proposed merger because it contains
important information. Investors and security holders may obtain a
free copy of the proxy statement/prospectus and other documents filed
by Reliance and Jorgensen with the Securities and Exchange Commission
at the Commission's web site at www.sec.gov. The proxy
statement/prospectus and these other documents may also be obtained
free of charge from Reliance at www.rsac.com. Jorgensen stockholders
should read the definitive proxy statement/prospectus carefully before
making a decision concerning the merger.
Reliance and Jorgensen, and their respective directors, executive
officers and certain other of their employees, may be soliciting
proxies from Jorgensen's stockholders in favor of the approval of the
merger. Information regarding the persons who may, under SEC rules, be
deemed to be participants in the solicitation of Jorgensen's
stockholders in connection with the merger is set forth in Reliance's
proxy statement for its 2005 annual meeting, filed with the SEC on
April 15, 2005, and in Jorgensen's proxy statement for its 2005 annual
meeting, filed with the SEC on July 21, 2005, and additional
information is set forth in the definitive proxy statement/prospectus
referred to above.
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 2006 Forbes Platinum 400 List of
America's Best Big Companies. This release may contain forward-looking
statements relating to future financial results. Actual results may
differ materially as a result of factors over which Reliance Steel &
Aluminum Co. has no control. These risk factors and additional
information are included in the Company's reports on file with the
Securities and Exchange Commission.
CONTACT: Reliance Steel & Aluminum Co.
Kim P. Feazle, Investor Relations, 713-610-9937
213-576-2428
kfeazle@rsac.com
investor@rsac.com