Hannah outlines Reliance’s next steps
Apr 16, 2013 | 03:25 PM
| Corinna Petry
CHICAGO The growth of service center operator Reliance Steel & Aluminum Co. has been based largely on acquisitions, and its biggest purchase to datethat of former rival Metals USA Holding Corp.creates a company that boasts slightly more than $10 billion in pro forma sales.
In an exclusive interview with AMM, chairman and chief executive officer David H. Hannah talked about the steps Reliance will take following the completion of the $1.24-billion deal and how it differs from the companys $1.1-billion acquisition of PNA Group Holding Corp. in mid-2008.
A dozen senior Metals USA executives have arrived at Reliances headquarters in Los Angeles for a get-to-know-you dinner and a series of meetings during which Reliance will gather information that couldnt be shared during due diligence, including pricing, and lay out its goals, Hannah said.....
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