Reliance sees more acquisitions as metals rally

Oct 29, 2013 | 08:51 AM | Michael Cowden

Tags  David H. Hannah, Reliance Steel & Aluminum Co., aluminum, stainless, acquisitions, Metals Service Center Institute, Metals USA Holdings, Michael Cowden

PALM BEACH, Fla. — Reliance Steel & Aluminum Co. is seeing more acquisition opportunities as metal markets improve from recession-era doldrums, chairman and chief executive officer David H. Hannah said.

The Los Angeles-based service center chain historically has seen metals business owners more likely to sell when times are good, Hannah said. If they can "show better numbers" they think they will "get paid more."

Another impetus behind the uptick in acquisition potential could be retirements and family issues, Hannah said, such as one generation not interested in taking over the business. ....

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