Reliance purchases Encore Group
One of the largest metals service center companies in the US, Reliance Steel & Aluminum Co., announced Thursday it has agreed to acquire Encore Group to expand metal sales to oil and gas producers in western Canada. The terms of the deal have not yet been disclosed, but are expected to be finalized during the first quarter of 2007. Encore's current management is not expected to change. Encore, based in Edmonton, Alberta, had sales of $220 million in 2005. Encore specializes in processing and distributing alloy and carbon bars and tubes, stainless steel sheet, plate and bar and carbon steel flat rolled products.
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