Reliance Steel & Aluminum Co. said Thursday that it has agreed to buy Carson-based Crest Steel Corp., continuing a buying spree that has seen it acquire more than 30 companies over the last decade.
The Los Angeles based steel finisher and distributor did not disclose financial terms.
Crest, which specializes in the processing and distribution of carbon steel products including flat-rolled, plate and bars, had sales of about $129 million in 2005 and has distribution facilities in Riverside and Phoenix.
Reliance, already one of the nation's largest steel distribution companies, expands its carbon steel business with the acquisition of Crest and adds two more facilities to its network of 160 distribution locations in 37 states.
Shares in Reliance were down 31 cents in early trading Thursday to $33.46.
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