Oct 3 Reliance Steel & Aluminum Co said
it bought privately held Sunbelt Steel Texas LLC, a distributor
of special alloy steel bar and heavy-wall tubing products to the
oil and gas industry.
Terms of the transaction were not disclosed.
Sunbelt, founded in 1986, had net sales of $48 million in
the 12 months ended Dec. 31, 2011.
Reliance said the current management of Houston-based
Sunbelt will remain in place, with Michael Kowalski as
Reliance Chief Executive David Hannah said the acquisition
will enhance the company's exposure to the high-end energy
market, serving customers across multiple oil and gas well
Shares of Reliance were marginally up at $51.69 in early
trading on the New York Stock Exchange.