Russel Metals Inc Announces Acquisition Of Siemens Laserworks

Russel Metals Inc announced that they have completed the acquisition of Siemens Laserworks Inc., a value-added laser processing company with trailing twelve months revenues of $33 million. The acquisition includes both the Saskatoon, Saskatchewan and Edmonton, Alberta operating assets and the Saskatoon land and buildings. The total purchase price was $27.5 million. Siemens Laserworks was founded in 1996 and provides high quality parts and assemblies to their customer base throughout the Prairies. Siemens Laserworks will operate under its trade name, as a division of Russel Metals Inc. The entire management team will remain in place, led by Shawn Henschel the current President and Chief Executive Officer of Siemens Laserworks.