Reliance acquires West Coast distributor Lampros Steel
Dec 03, 2010 | 02:28 PM
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Reliance Steel & Aluminum Co. has acquired the outstanding capital stock of Lampros Steel Inc., Portland, Ore., and a related interest in Lampros Steel Plate Distribution LLC.
The deal, terms of which were not disclosed, sees Reliance take over companies with combined 200 revenues of $29 million.
The acquisition was Los Angeles-based Reliance's second this year and 47th since going public in 1994, chairman and chief executive officer David H. Hannah told AMM on Friday.
Lampros Steel primarily distributes structural steel shapes, while Lampros Steel Plate Distribution—in partnership with Evraz Oregon Steel Mills Inc.—owns half of LSI Plate, a joint venture established in 1999 that sells carbon steel plate from warehouses in California and Oregon. The two companies combined for $29 million in revenue in 2009.....
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