Reliance’s Encore buy to fill Canada gap
Dec 29, 2006 | 09:53 AM
| Frank Haflich
After more than 35 acquisitions in the past dozen years, it might be presumed that there's no regional market that isn't covered thoroughly by Reliance Steel & Aluminum Co. But Reliance's pending acquisition of Encore Group's metals service center companies is due to give it a strong presence in western Canada for the first time.
"This gives us exposure to an area of North America where we didn't have much exposure to start with," David H. Hannah, chief executive officer of Los Angeles-based Reliance, said in a brief telephone interview.
Reliance said this past week that it would acquire Encore, which had 2005 sales of Canadian $254.8 million ($219.5 million). The terms of the deal were not disclosed, but the transaction is expected to be complete in the first quarter (AMM, Dec. 29).....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.