Reliance subsidiary acquires steel service center

Reliance Steel & Aluminum Co. subsidiary, Sisken Steel & Supply, has purchased Athens, Georgia-based steel service center Industrial Metals and Surplus Inc. in an all-cash deal. Reliance officials say that the deal also includes Industrial Metals' related business, Athens Steel Inc. With this new deal, Sisken, which is based in Chattanooga, Tennessee, will combine its Atlanta-based Georgia Steel Supply Co. division with the Industrial Metals operation. Industrial Metals will operate as a wholly-owned subsidiary of Siskin, company officials said. The transaction will not affect Sisken's Chattanooga operations. Reliance CEO David H. Hannah told the press that the company carried out the transaction in order “to better serve our growing customer base with the addition of Industrial Metals' larger, more efficient facility.” Los Angeles-based Reliance Steel is one of the largest US metal service centers. Primary products include galvanized, hot rolled and cold rolled steel, stainless steel, titanium and alloy steel.