Russel Metals Closes Acquisition of Boyd Metals
Russel Metals Inc. (TSX: RUS) has successfully completed the acquisition of Boyd Metals, which operates five service centers across Arkansas, Missouri, Oklahoma, and Texas.
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Rhea-AI Summary
Russel Metals Inc. (TSX: RUS) has successfully completed the acquisition of Boyd Metals, which operates five service centers across Arkansas, Missouri, Oklahoma, and Texas. This strategic acquisition is expected to enhance Russel's operational platform and expand its market reach. President and CEO John Reid expressed enthusiasm for integrating Boyd's team and resources into Russel Metals. The company focuses on metals distribution and processing, offering a diverse range of products including carbon steel, stainless steel, aluminum, and energy products.
Positive
- Acquisition of Boyd Metals enhances Russel's operational platform.
- Expansion into new markets with five service centers in key states.
- Expected synergies from integrating Boyd's operations.
Negative
- None.
Details
News Market Reaction – RUSMF
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TORONTO, Dec.1, 2021 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has closed its acquisition of a group of companies that operate as Boyd Metals ("Boyd"). Boyd operates five service centers in Fort Smith (Arkansas), Little Rock (Arkansas), Joplin (Missouri), Oklahoma City (Oklahoma) and Tyler (Texas).
John Reid, President and CEO of Russel commented, "We are excited to have the Boyd business as part of our operating platform as we welcome Tom Kennon, Brian Newman and all of the Boyd employees to the Russel Metals 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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View original content:https://www.prnewswire.com/news-releases/russel-metals-closes-acquisition-of-boyd-metals-301434161.html
SOURCE Russel Metals Inc.
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