Russel Metals, one of the largest metals distribution companies in North America, announced Thursday that they have signed an agreement to acquire Red Deer, Alberta-based Alberta Industrial Metals Ltd., a metals distribution and processing service center, for $30 million. Alberta Industrial Metals stocks plate, sheet, merchant bars, tubing, pipe, rebar and beams.
Brian Hedges, President and CEO of Russel Metals stated "We are extremely pleased to add Alberta Industrial Metals to our service center operations. Alberta Industrial Metals is a market leader in their region and their cut-to-length processing capabilities complement our Alberta operations. The current management team will continue to lead Alberta Industrial Metals."