Reliance Steel & Aluminum Co. said Thursday that it has agreed to acquire Encore Group and all of its assets. Financial terms were not disclosed.
Edmonton, Alberta-based Encore, which had 2005 sales of $220 million, specializes in processing and distributing alloy and carbon bars and tubes, as well as stainless steel sheet, plate and bar and carbon steel flat-rolled products.
In the deal, Reliance, which has purchased more than 40 companies in the last 10 years, will add 17 facilities, mainly in western Canada, to its expanding North American network of more than 160 locations.
Shares in Reliance were down 19 cents to $39.83 in early trading Thursday.
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