Reliance acquires West Coast distributor Lampros Steel
Dec 03, 2010 | 02:28 PM
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.....
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.