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Russel Metals Inc. reports developments as a North American metals distribution company operating through metals service centers, energy field stores and steel distributors. Its service centers carry carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals; its energy field stores serve energy industry customers; and its steel distributors sell large-volume steel to service centers and equipment manufacturers.
Recurring news covers quarterly and annual results, EBITDA and liquidity measures, dividend declarations, normal course issuer bids, capital investment and branch-integration activity, property rationalization, and annual meeting matters such as director elections, auditor appointments and advisory compensation votes.
Russel Metals Inc. (TSX: RUS) announced the extension of its $450 million credit facility with major banks, led by RBC Capital Markets, until September 21, 2023. The agreement has been updated to enhance borrowing base flexibility. CEO Martin L. Juravsky expressed satisfaction with the lenders' support, emphasizing that this extension, combined with their cash position, provides robust liquidity and financial flexibility for future growth opportunities.