Russel Metals sees big energy market growth

Nov 04, 2011 | 04:15 PM | Corinna Petry

Tags  Russel Metals, steel pipe and tube, energy play, 2012 outlook, Brian Hedges, Corinna Petry

CHICAGO — Russel Metals Inc., which has become increasingly linked to the energy market both through its energy tubular business and its service center and master distribution businesses, sees it as a strong arena for profitable growth in the long term.

"Conventional drilling is stronger in the U.S., where the economics of fracking are dominating," president and chief executive officer Brian Hedges said Friday during Russel’s quarterly conference call. "We are a bigger player in Canada," including conventional drilling and oil sands. "I think next year will be good in both countries."....

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