Reliance Steel & Aluminum Co. Provides Update on Hurricane Harvey Impact
September 08 2017 - 6:50AM
Reliance Steel & Aluminum Co. (NYSE:RS) provided an update
today on its operations located in the areas directly impacted by
Hurricane Harvey. Reliance currently operates thirteen locations
throughout this area, whose total sales represented approximately
4% of Reliance’s consolidated net sales in the first half of fiscal
2017. Due to the severe weather conditions, many of these
facilities were closed and unable to ship for most of last week,
however, no material damage to the facilities, equipment or
inventory occurred. As of September 5, 2017, all facilities have
been reopened and are operational.
“We are happy to report that all of our employees and their
families are safe, however, many have suffered losses and our
thoughts and prayers are with them as they recover,” said Gregg
Mollins, President and Chief Executive Officer of Reliance. “We are
in a solid position to support our customers as they ramp up their
businesses, but it is still too early to understand the storm’s
full impact on our customers’ operations and the time it will take
to return to normalized shipping levels in these areas. Due to this
uncertainty, we are unable to quantify any impact on our third
quarter 2017 results at this time.”
Mr. Mollins continued, “The safety of our employees remains our
top priority. Our thoughts are with our employees, customers and
others in the Florida region as they prepare for Hurricane
Irma.”
About Reliance Steel & Aluminum Co.Reliance
Steel & Aluminum Co., headquartered in Los Angeles, California,
is the largest metals service center company in North
America. Through a network of more than 300 locations in 39
states and twelve countries outside of the United States, Reliance
provides value-added metals processing services and distributes a
full line of over 100,000 metal products to more than 125,000
customers in a broad range of industries. Reliance focuses on
small orders with quick turnaround and increasing levels of
value-added processing. In 2016, Reliance’s average order
size was $1,560, approximately 47% of orders included value-added
processing and approximately 40% of orders were delivered within 24
hours. Reliance Steel & Aluminum Co.’s press releases and
additional information are available on the Company’s web site at
www.rsac.com.
CONTACT:
Brenda Miyamoto
Investor Relations
(213) 576-2428
investor@rsac.com
or Addo Investor Relations
(310) 829-5400
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