Reliance Steel &Aluminum Co., Los Angeles, CA, reported profit in the year ended Dec. 31, 2007, was up 15% to $408 million. Sales were $7.26 billion, an increase of 26% compared with 2006.
The five acquisitions completed during 2007 contributed to the results: Encore Group Limited; Crest Steel Corporation; Industrial Metals and Surplus, Inc.; Clayton Metals, Inc. and Metalweb Limited. Full-year operating results from the 2006 acquisitions of Earle M. Jorgensen Company and Yarde Metals, Inc. further contributed to 2007.
For the fourth quarter, profit was $79.9 million, up 7%. Sales for the 2007 fourth quarter were $1.71 billion, an increase of 9%.
Reliance Steel &Aluminum is a metals service center in the U.S. Through a network of more than 185 locations in 37 states and Belgium, Canada, China, South Korea and the United Kingdom, the company provides metals processing services and distributes a full line of over 100,000 metal products. These products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel sold to more than 125,000 customers in various industries.