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Toronto-based Russel Metals Inc. (TSX: RUS) has agreed to acquire Alberta Industrial Metals Ltd., a metals distribution and processing service center located in Red Deer, Alberta. The acquisition includes the operating assets and the land and buildings. The total purchase price was $30 million.
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Annual revenues for Alberta Industrial Metals are approximately $30 million.
"Alberta Industrial Metals is a market leader in their region and their cut-to-length processing capabilities complement our Alberta operations," said Brian Hedges, president and CEO of Russel Metals. "The current management team will continue to lead Alberta Industrial Metals."