TORONTO, Jan. 4, 2021 /CNW/ - Russel Metals Inc. (TSX: RUS) announces that it has closed its acquisition of Sanborn Tube Sales of Wisconsin, Inc. ("Sanborn").
Sanborn is a metals service center with a heavy emphasis in value-added processing. The Sanborn operation, based in Pewaukee, Wisconsin, is in close proximity to our three Wisconsin service centers and offers the opportunity for the combined business to expand our product offering. Over the past several years, Sanborn generated annual sales of approximately US$19 million across a diverse base of industrial customers.
President and CEO John Reid said, "I am pleased to welcome the Sanborn employees to the Russel Metals family and look forward to further advancing our value-added strategic initiatives in 2021."
About Russel Metals
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. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals. Its energy products operations carry a specialized product line focused on the needs of energy industry customers. Its steel distributors operations act as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an "as is" basis.
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Web site: www.russelmetals.com
SOURCE Russel Metals Inc.
Martin L. Juravsky, Executive Vice President and Chief Financial Officer, Russel Metals Inc., (905) 819-7361, E-mail: [email protected]
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