RUSSEL METALS CLOSES ACQUISITION OF ASSETS FROM SAMUEL

Rhea-AI Summary

Russel Metals Inc. (TSX: RUS) has closed the acquisition of seven service centers from Samuel, Son & Co., The acquired centers are located in Western Canada and the Northeast U.S. John Reid, President and CEO, welcomed Samuel employees to the Russel family, noting their close collaboration for an orderly transition.

Russel Metals is one of North America's largest metals distribution companies, with a growing focus on value-added processing. The company operates in three segments: metals service centers, energy products, and steel distributors. Its network offers an extensive line of metal products in various sizes, shapes, and specifications, including carbon steel, pipe and tubular products, stainless steel, aluminum, and other non-ferrous specialty metals.

Positive

• Acquisition of seven service centers expands Russel Metals' presence in Western Canada and Northeast U.S.
• Strengthens Russel Metals' position as one of the largest metals distribution companies in North America
• Potential for increased market share and revenue growth through expanded service center network

Negative

• None.

TORONTO, Aug. 12, 2024 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has closed the acquisition of seven service centers located in Western Canada and the Northeast U.S. from Samuel, Son & Co., Limited ("Samuel").

John Reid, President and CEO commented, "We have worked very closely with the Samuel team over the past several months in coordinating for an orderly transition, and we now welcome the Samuel employees to the Russel family."

About Russel Metals Inc.

Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value added processing.  It carries on business in three 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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SOURCE Russel Metals Inc.

FAQ

What assets did Russel Metals (RUSMF) acquire from Samuel?

Russel Metals acquired seven service centers located in Western Canada and the Northeast U.S. from Samuel, Son & Co.,

When did Russel Metals (RUSMF) close the acquisition of Samuel's assets?

Russel Metals closed the acquisition of assets from Samuel on August 12, 2024.

What are the main business segments of Russel Metals (RUSMF)?

Russel Metals operates in three main segments: metals service centers, energy products, and steel distributors.

How does the acquisition affect Russel Metals' (RUSMF) market position?

The acquisition strengthens Russel Metals' position as one of the largest metals distribution companies in North America and expands its presence in Western Canada and the Northeast U.S.