Hannah outlines Reliance’s next steps

Apr 16, 2013 | 03:25 PM | Corinna Petry

Tags  Reliance Steel & Aluminum, Metals USA, David Hannah, acquisition, PNA Group, industry consolidation, economic recovery, metals demand Corinna Petry

CHICAGO — The growth of service center operator Reliance Steel & Aluminum Co. has been based largely on acquisitions, and its biggest purchase to date—that 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 company’s $1.1-billion acquisition of PNA Group Holding Corp. in mid-2008.

A dozen senior Metals USA executives have arrived at Reliance’s headquarters in Los Angeles for a get-to-know-you dinner and a series of meetings during which Reliance will gather information that couldn’t be shared during due diligence, including pricing, and lay out its goals, Hannah said.....





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