Russel Metals Announces Rationalization of Its Ontario Long Products Operations
23 August 2010 - 9:22PM
Marketwired
Russel Metals Inc. (TSX: RUS) today announced it intends to combine
its Ontario structural steel and other long products operations in
its Cambridge facility, resulting in the closure of its Port
Robinson facility. The expansion at the Cambridge facility will
cost approximately $6 million. The Company will be able to better
serve its customer base from the Cambridge location. This
restructuring allows Russel Metals to remain a strong player in
this competitive market and reduce its operating costs. The Company
estimates 80 employees from the Port Robinson branch will be
impacted and that approximately 40 employees will be hired for the
expansion in Cambridge.
Brian Hedges, President and CEO, stated "The decision to close a
location is never easy as it impacts long service employees. We are
pleased to be able to expand in Cambridge and create 40 jobs at
this location. The expansion at the Cambridge branch allows us to
fulfill our commitment to provide better service to our customers
and rationalize, as needed, our operations in Ontario."
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, Norton Metals, 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
info@russelmetals.com 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