TITLE

Reliance Buys Rest of American Steel

PUB. DATE
January 2006
SOURCE
Metal Center News;Jan2006, Vol. 46 Issue 1, p15
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Reliance Steel & Aluminum Co., of Los Angeles, California, has bought the major shares of its subsidiary American Steel LLC, from American Industries Inc. on January 3, 2006. Since the foundation of Reliance, the company had an interest in the membership units of American Steel, operating metals service centers in Portland, Oregon, and Kent, Washington. The primary goal of American Steel is to process and distribute carbon steel products. The operating control over the assets and operations of American Steel has been retained by Reliance, while American Industries owned the other 50 percent interest. The net sales of American Steel were approximately $107 million.
ACCESSION #
19780339

 

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