Russel Metals, one of North America's largest metals distribution companies, announced Tuesday its completion of the acquisition of Siemens Laserworks, a value-added processing company. The acquisition includes both the Saskatoon, Saskatchewan and Edmonton, Alberta operating assets and the Saskatoon land and buildings. The total purchase price was $27.5 million.
Siemens Laserworks will operate under its trade name, as a division of Russel Metals Inc. The entire management team will remain in place, led by Shawn Henschel the current President and CEO of Siemens Laserworks.