CHICAGO, April 4, 2018 /PRNewswire/ -- Ryerson
Holding Corporation (NYSE: RYI), a leading value-added
processor and distributor of industrial metals, announced today
that it acquired Fanello Industries ("Fanello"), a privately-owned
metal service company located in Lavonia,
Georgia. Fanello is a processor and service provider that
supplies blanking, stamping, laser cutting, bending, and machining
metal solutions to a diverse group of industries in the
Southeastern United States. The
Company employs approximately 150 people and has annual revenue of
approximately $20 million.
"Fanello Industries has built an excellent reputation by
designing custom metal stamping, machining, and tool and die
solutions for its customers. When we say that we have a
passion for the customer experience, that passion is embodied in
Fanello," said Eddie Lehner,
Ryerson's President and Chief Executive Officer. "The acquisition
of Fanello increases our breadth of value-added services that we
can leverage across our intelligent service center network to
create great experiences for Ryerson's current and future
customers."
Added Kevin Richardson, Ryerson's
President, South-East Region, "We are excited to welcome Fanello
Industries to Ryerson. We have worked closely with Vince Fanello and his management team for many
years both as a customer and a supplier of value-added fabrication
services. Fanello will be an excellent extension of our supply
chain given its outstanding reputation for quality and broad
capabilities in stamping and metal fabrication. Fanello will
continue to service the market under its own brand name and we look
forward to collaborating with its team as we join forces."
Vince Fanello, Chief Executive
Officer of Fanello Industries, stated, "This year Fanello
Industries enjoyed its 20th anniversary, and the opportunity to
join Ryerson allows our customers to enjoy the continued service
and dedication they have enjoyed in the past, while combining our
depth of knowledge in the metals industry enhances our product
offering in the future. Joining a company that measures success in
centuries is an honor for all of us at Fanello Industries."
About Ryerson
Ryerson is a leading value-added
processor and distributor of industrial metals, with operations in
the United States, Canada, Mexico, and China. Founded in 1842, Ryerson employs around
3,600 employees in approximately 100 locations. Visit Ryerson at
www.ryerson.com.
View original content with
multimedia:http://www.prnewswire.com/news-releases/ryerson-acquires-fanello-industries-300624645.html
SOURCE Ryerson Holding Corporation