Reliance Buys British Company

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Reliance Steel & Aluminum Co. said Tuesday that it is acquiring Metalweb PLC for an undisclosed amount.


Metalweb, based in Birmingham, England, specializes in processing and distributing aluminum products for aerospace and general engineering companies. The company also has three additional service centers located in Manchester, London and Oxford and had sales of about $53 million during last year.


“This transaction will bring an additional global presence to Reliance and its first metals service center in the United Kingdom with a highly skilled and knowledgeable management team that is eager to continue to grow both within the U.K. and beyond,” Reliance’s Chief Executive David Hannah said in a statement.


The deal is expected to close within the next 30 days.


Los Angeles-based Reliance has acquired nearly 40 companies since the company went public in 1994. This is the company’s first acquisition in England.


Shares in Reliance added 1.8 percent, or 96 cents, to $53.81 in afternoon trading on the New York Stock Exchange.

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