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Reliance Steel & Aluminum Co. (NYSE:RS), Los Angeles, CA, has acquired Continental Alloys & Services, Inc., and certain affiliated companies, for $415 million. Continental, headquartered in Houston, Texas, and its affiliates comprise a global materials management company focused on high-end steel and alloy pipe, tube and bar products and precision manufacturing of various tools designed for well completion programs of global energy service companies and has 12 locations in seven countries including the U.S., Canada, United Kingdom, Singapore, Malaysia, Dubai and Mexico.
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Continental was founded in 1976 and had unaudited combined sales of about $196 million for the six months ended June 30, 2011. Continental Alloys & Services will operate as a subsidiary of Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is a metals service center company.