Reliance Steel agrees to acquire Precision Strip

Reliance Steel agrees to acquire Precision Strip

US' one of the largest metals service center company Reliance Steel & Aluminum Co. located in Los Angeles, California announced that it has signed an agreement to acquire Precision Strip, Inc which is located in Minster, Ohio. The acquisition is aimed to complete within thirty days, after receiving the necessary approvals. Precision Strip is a privately owned metals processing company since 1977. The company has grown to seven locations throughout Ohio, Indiana and Kentucky over the past 25 years. Precision Strip processes and delivers carbon steel, aluminum and stainless steel products. Precision Strip facilities are located in Kenton, Middletown, Minster and Tipp City, Ohio; Anderson, Indianapolis; Bowling Green Ky. and Talladega, Alabama. The company processes metal to steel and aluminum mills and also companies in the automotive, applience, metal furniture and capital goods industries. Reliance Steel's primary business strategy is to improve its operating results through strategic acquisitions and expansions of its existing operations. As a result, Reliance believes that Precision Strip is a solid complement to their existing business. Reliance Steel & Aluminum Co. is one of the largest metals service center companies in US. The company provides value added metals processing services and distributes a full line of over 85'000 metal products through a network of over 90 metals processing and distribution facililities in over 25 states, Belgium, France and South Korea. These products include galvanized, hot rolled and cold finished steel, stainless steel, aluminum, brass, copper, titanium and alloy steel.