Reliance Steel & Aluminum Buys Fox Metals and Alloys - Modern Distribution Management

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Reliance Steel & Aluminum Buys Fox Metals and Alloys

Acquisition expands company's presence in oil and gas arena.
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Reliance Steel & Aluminum Co. (NYSE: RS), Los Angeles, CA, has acquired steel distributor Fox Metals and Alloys Inc., Houston, TX. Terms were not disclosed.

Fox distributes alloy, carbon and stainless steel bar and plate products to manufacturers in the oil, gas and petrochemical industries.  Fox, whose net sales for 2013 were about $50.5 million, will operate as a wholly owned subsidiary of Reliance Steel.

"The acquisition of this high quality, customer service-focused company further expands our presence in the oil and gas arena," said David H. Hannah, chairman and CEO of Reliance.

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