Russel Metals acquires Alberta Industrial Metals
by Jessica Kirby
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Russel Metals Inc. (TSX:RUS) has signed an agreement to acquire Alberta Industrial Metals Ltd., a metals distribution and processing service center in Red Deer, Alberta, including the operating assets, land, and buildings.
The total purchase price was $30 million, and revenues are approximately $30 million.
Brian Hedges, president and CEO of Russel Metals, said Alberta Industrial Metals’ cut-to-length processing capabilities complement Russel Metals’ current operations in Alberta.
Russel Metals is one of the largest metals distribution companies in North America, operating in metals service centers, energy tubular products and steel distributors under various names including Russel Metals, A.J. Forsyth, Acier Leroux and others.
