Acquisition includes operating assets, land and buildings.
May 25, 2012
by The Canadian Press
TORONTO: Russel Metals Inc. says it will acquire Alberta Industrial Metals Ltd., a metals distribution and processing service centre in Red Deer, Alta., for $30 million.
The Toronto-based metals distribution company said the acquisition includes the company’s operating assets, as well as the land and buildings.
It said Alberta Industrial revenues are about $30 million.
“Alberta Industrial Metals is a market leader in their region and their cut-to-length processing capabilities compliment our Alberta operations,” said Brian Hedges, CEO of Russel Metals.
Alberta Industrial’s current management team will continue to lead the company.
Russel Metals Red Deer operations will be integrated with those of Alberta Industrial.
Russel sells steel and pipe to the construction and oil and gas industries as well as many other customers.