Reliance Steel to buy Alabama's GH Metal Solutions
LOS ANGELES (AP) — Reliance Steel & Aluminum Co. said Thursday that it is buying GH Metal Solutions Inc., a steel processor and fabricator in Alabama.
The financial terms of the deal were not disclosed. Reliance, through its subsidiary Feralloy Corp., will purchase all of the outstanding capital stock of GH Metal Solutions, which was formerly known as Gas House Inc.
GH Metal Solutions was founded in 1958 and generated revenue of approximately $44 million last year.
The deal is expected to close within 30 days.
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.
Shares of Reliance fell 41 cents to $54.12 in midday trading.