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Reliance Steel Aluminum to acquire Continental Alloys Services
Edited by : AL CIRCLE
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Reliance Steel & Aluminum Co announced that it has reached an agreement to purchase all of the outstanding capital securities of Continental Alloys & Services Inc, headquartered at Houston in Texas and certain affiliated companies.
The transaction is expected to be finalized within 30 days, subject to customary closing conditions.
Terms were not disclosed.
Continental is a leading global materials management company focused on high end steel and alloy pipe, tube and bar products and precision manufacturing of various tools designed for well completion programs of global energy service companies and has 12 locations in seven countries including the United States, Canada, United Kingdom, Singapore, Malaysia, Dubai and Mexico.
Continental and its affiliates had unaudited combined net sales of approximately USD 196 million for the six months ended June 30th 2011.
The transaction is expected to be finalized within 30 days, subject to customary closing conditions.
Terms were not disclosed.
Continental is a leading global materials management company focused on high end steel and alloy pipe, tube and bar products and precision manufacturing of various tools designed for well completion programs of global energy service companies and has 12 locations in seven countries including the United States, Canada, United Kingdom, Singapore, Malaysia, Dubai and Mexico.
Continental and its affiliates had unaudited combined net sales of approximately USD 196 million for the six months ended June 30th 2011.
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