Reliance Steel closes deal for GH Metal, no terms

Associated Press Published: October 4, 2012

LOS ANGELES (AP) — Reliance Steel & Aluminum Co. said Thursday that it completed its acquisition of GH Metal Solutions Inc.

Financial terms were not disclosed.

GH Metal, formerly known as Gas House Inc., is a processor and fabricator of carbon steel products. The Fort Payne, Ala.-based company was founded in 1958 and posted 2011 sales of about $44 million.

GH will operate as a subsidiary of Reliance's Feralloy Corp. and its current management will remain in place, Reliance said.

Reliance said the addition of GH will help it meet the increasing demands of its customer base.

Reliance, headquartered in Los Angeles, is the largest metals service center company in North America, providing metals processing services and making metal products for a broad range of industries. It operates more than 220 locations worldwide.

Reliance shares rose $1.13, or 2.2 percent, to $52.23 in morning trading Thursday. Its shares have traded in a range of $31.09 to $58.80.

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