Reliance Steel & Aluminum Co. acquires Diamond Consolidated Industries, Inc. and affiliates

Monday, 04 October 2010 20:32:13 (GMT+3)   |  
       

Los Angeles, California-based Reliance Steel and Aluminum Company announced October 1 that it has acquired the outstanding capital securities of Diamond Consolidated Industries, Inc. and affiliated companies. The entities included in the merger are the Diamond Manufacturing companies in Wyoming, Pennsylvania and Michigan City, Indiana. The acquisition also incorporates Charlotte, North Carolina-based Perforated Metals Plus, distributor of perforated metals, and Dependable Punch Corporation, a manufacturer of custom punches for tools and dies, also located in Wyoming, Pennsylvania.

The combined sales of Diamond and its affiliated companies for the nine months ended September 30 2010 were approximately $75 million. All the businesses will operate as divisions of Diamond Manufacturing Company, that will operate as a subsidiary of Reliance Steel & Aluminum Co. Current management will remain in place with Charles (Rusty) D. Flack, Jr. serving as Chief Executive Officer of Diamond.

David H. Hannah, Chairman and CEO of Reliance, has said that "we are very pleased to have Diamond join the Reliance family of companies. We believe they are the premier perforated metals specialists in the United States. In addition to expanding Reliance's product line into perforated metals, it also enhances our processing breadth with high value-added services."


Tags: US North America M&A 

Similar articles

Biden: US Steel “must remain domestically owned and operated”

15 Mar | Steel News

Nippon Steel fails to address concerns of workers at US Steel

11 Mar | Steel News

USW receives Biden’s support on opposition to sale of US Steel

06 Feb | Steel News

Biden: Acquisition of US Steel by Nippon Steel needs to be investigated

28 Dec | Steel News

United Steelworkers union denounces US Steel-Nippon acquisition

18 Dec | Steel News

Nucor scrap subsidiary acquires Ohio-based Garden Street Iron & Metal

16 Oct | Steel News

Olympic Steel acquires Central Tube & Bar

02 Oct | Steel News

More bids reported for US Steel acquisition

22 Sep | Steel News

Tenaris acquires pipe processing plant in US

08 Sep | Steel News

US Steel signs confidentiality agreements with numerous bidders

30 Aug | Steel News