Reliance Steel Subsidiary Agrees to Acquire Flat Rock Metal Processing
Reliance Steel & Aluminum Co., Los Angeles, CA, ($3.37 billion in 2005 sales) announced that its subsidiary, Precision Strip, Inc., has agreed to acquire Flat Rock Metal Processing LLC, Flat Rock, MI. The transaction is expected to be completed within 60 days.
Flat Rock was founded in 2001 and is a privately held toll processing company with facilities in Perrysburg, OH, and Eldridge, IA.
Upon completion of the acquisition, the two Flat Rock facilities will operate as Precision Strip locations that process and deliver carbon steel, aluminum and stainless steel products on a "toll" basis, processing the metal for a fee, without taking ownership of the metal. Precision Strip currently has facilities in Kenton, Middletown, Minster and Tipp City, OH; Anderson and ...