Russel Metals will pay $30 million to acquire the metals distribution and processing center.
Latest In Metals Service Centers
Steel service center Reliance also reports first-quarter sales up 13% from last year.
‘It was like tripping over a gigantic jewel on the sidewalk,’ Shale-Inland CEO says.
Energy (oil & gas), agriculture and mining industries showed the most strength in 2011.
McKey had sales in 2011 of $18 million.
Profit for the metal services center grew 74 percent year-over-year.
Worthington’s Pressure Cylinders segment announced the acquisition of STAKO, a producer of automotive LPG tanks.
Profit for the metal services center improved 60 percent year over year.
Profit of $92.3 million was more than double profit in first quarter 2010.
For the first nine months of fiscal 2011, sales increased 34 percent.
Non-residential construction markets continue to lag for the North American metals service center.
Profit for the diversified metals manufacturer declined 37.5 percent.
Other markets pick-up for the steel distributor in the third quarter.
Profit for the diversified metals manufacturer more than tripled from the same period a year ago.
Seamless pipe sales faced ‘tremendous headwinds,’ Precision Castparts reports.
Reliance: Metals prices have softened since the end of the second quarter 2010.
