Reliance Steel and Aluminum Co. announced its subsidiary, Precision Strip Inc, has signed a contract to acquire certain assets and businesses of Flat Rock Metal Processing LLC, a privately held toll processing company.
The acquisition of the Flat Rock, Michigan-based company is expected to be completed within 60 days.
Upon completion of the acquisition, the two Flat Rock facilities in Perrysburg, Ohio and Eldridge, Iowa will operate as Precision Strip locations, processing and delivering carbon steel, aluminum, and
stainless products on a "toll" basis, meaning they will process the metal for a fee without taking ownership of the metal.
"This acquisition will expand our toll processing capabilities and strengthen our geographic presence in the Midwest," said Precision Strip Inc president Thomas A. Compton. "Additionally, it allows us to better serve and grow our existing customer base."
Precision Strip currently has locations in Kenton, Middletown, Minster, and Tipp City, Ohio; Anderson and Rockport, Indiana; Bowling Green, Kentucky; and Talladega, Alabama. Primary customers include steel and aluminum mills as well as companies in the
automotive, appliance, metal furniture, and capital goods industries.
Reliance Steel and Aluminum Co. is one of the largest metal service center companies in the US, processing
galvanized, hot rolled, cold finished, and
stainless steel as well as aluminum and alloy products at over 100 locations in 32 states,
Belgium, and South
Korea.