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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 Rockport, IN; Bowling Green, KY, and Talladega, AL. Precision Strip’s customers include steel and aluminum mills as well as companies in the automotive, appliance, metal furniture and capital goods industries.

Thomas A. Compton, president of Precision Strip, Inc., said, “This acquisition will expand our toll processing capabilities and strengthen our geographic presence in the Midwest.”

Reliance Steel & Aluminum Co. is one of the largest metals service center companies in the U.S. Through a network of more than 100 locations in 32 states and Belgium and South Korea, the company provides metals processing services and distributes a full line of over 90,000 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 95,000 customers in various industries.

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