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Stock Market & Financial Investment News

News Breaks
October 3, 2012
08:54 EDTRSReliance Steel acquires Sunbelt Steel Texas
Reliance Steel has acquired all the outstanding limited liability company interests of Sunbelt Steel Texas, a value-added distributor of special alloy steel bar and heavy-wall tubing products to the oil and gas industry, effective October 1. Net sales of Sunbelt for 2011 were approximately $48M. Sunbelt will operate as a wholly-owned subsidiary of Reliance Steel. Current management will remain in place. Terms were not disclosed.
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