Russel Metals Inc. Signs Purchase Agreement to Acquire Norton Metal Products, Inc.
10 November 2008 - 2:17PM
Marketwired
Russel Metals Inc. (TSX: RUS) announced today that it has entered
into a stock purchase agreement to acquire 100% of the outstanding
capital stock of Norton Metal Products, Inc. ("Norton"), a U.S.
family owned metals service center.
The Norton family has been in the steel industry since 1952.
They operate a general line steel distribution center located in
Fort Worth, Texas. Norton had annual revenues of approximately
CDN$70 million for the twelve months ended September 30, 2008. The
transaction is expected to close November 28, 2008.
Brian Hedges, Executive Vice President and COO, stated, "The
acquisition of Norton is a valuable strategic extension of our JMS
Russel Metals operations. This acquisition increases our geographic
presence in the southern United States. The Norton reputation in
the Dallas / Fort Worth area is a valuable asset and we will
continue to use the Norton name in the future."
Russel Metals is one of the largest metals distribution
companies in North America. It carries on business in three
distribution segments: metals service centers, energy tubular
products and steel distributors, under various names including
Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier
Richler, Arrow Steel Processors, B&T Steel, Baldwin
International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel
Metals, Leroux Steel, McCabe Steel, Megantic Metal, Metaux Russel,
Metaux Russel Produits Specialises, Milspec Industries, Pioneer
Pipe, Russel Metals Specialty Products, Russel Metals Williams
Bahcall, Spartan Steel Products, Sunbelt Group, Triumph Tubular
& Supply, Wirth Steel and York-Ennis.
Contacts: Russel Metals Inc. Marion E. Britton, C.A. Vice
President and Chief Financial Officer (905) 819-7407 Email:
info@russelmetals.com Website: www.russelmetals.com
Russel Metals (TSX:RUS)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Russel Metals (TSX:RUS)
Historical Stock Chart
Von Jul 2023 bis Jul 2024