TORONTO, Sept. 5, 2017 /CNW/ - Russel Metals Inc. (RUS - TSX) announces that it acquired Color Steels Inc. on September 1, 2017.
Color Steels is a service center operation which processes and distributes pre-painted metals from its facilities in Thornhill, Ontario and Laval, Quebec. Revenues for the last year were approximately $45 million. The current management team will remain in place and David Sanderson will continue as President of Color Steels.
John Reid, President and Chief Operating Officer of Russel Metals stated, "This unique opportunity allows us to grow our Canadian service center footprint through the acquisition of a profitable, well-run company. The acquisition of Color Steels expands our Canadian service center product offerings into processed pre-painted flat-rolled product. We welcome the employees and customers of Color Steels to our Russel Metals team."
David Sanderson, President of Color Steels stated "We are very excited to be part of Russel Metals. We see this as a good fit for our customers and employees."
Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Alberta Industrial Metals, Apex Distribution, Apex Monarch, Apex Remington, Apex Western Fiberglass, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Processing, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.
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SOURCE Russel Metals Inc.
Marion E. Britton, Executive Vice President and Chief Financial Officer, Russel Metals Inc., (905) 819-7407, E-mail: [email protected], Web site: www.russelmetals.com
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