Reliance Steel & Aluminum Co. Completes Acquisitions of KMS Fab, LLC and KMS South, Inc.
August 01 2018 - 6:50AM
Reliance Steel & Aluminum Co. (NYSE:RS) announced that
effective today it has acquired all of the issued and outstanding
equity ownership interests of KMS Fab, LLC and KMS South, Inc.
(“KMS” or “the KMS Companies”). The KMS Companies specialize in
precision sheet metal fabrication ranging from prototypes to large
production runs utilizing a wide variety of metals and fabrication
methods including laser cutting, stamping, turret punching,
machining, powder coating and welding. KMS Fab, LLC was founded in
1954 in Luzerne, Pennsylvania and KMS South, Inc. was founded in
1987 in West Columbia, South Carolina. For the fiscal year ended
December 31, 2017, the KMS Companies’ combined net sales were $23.3
million. The terms of the transaction were not disclosed.
“Our acquisition of the KMS Companies fits well with our growth
strategy of acquiring and investing in businesses that perform high
levels of value-added processing,” commented Gregg Mollins,
President and Chief Executive Officer of Reliance. “The KMS
Companies have a longstanding record of investing in
state-of-the-art technologies to provide customers with timely
delivery of the highest quality parts which aligns with Reliance’s
core business principles. We are thrilled to welcome the KMS team
to the Reliance family of companies.”
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 40 states and
thirteen 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 2017, Reliance’s average order size was $1,740, approximately
48% 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 website at www.rsac.com.
Forward-Looking StatementsThis press release
contains certain statements that are, or may be deemed to be,
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may include, but are not limited to, discussions of
Reliance’s industry and its end markets, its business strategies
and its expectations concerning future demand and metals pricing
and the Company’s results of operations, margins, profitability,
impairment charges, taxes, liquidity, litigation matters and
capital resources. In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should," "could,"
"would," "expect," "plan," "anticipate," "believe," "estimate,"
"predict," "potential" and "continue," the negative of these terms,
and similar expressions.
These forward-looking statements are based on management's
estimates, projections and assumptions as of today’s date that may
not prove to be accurate. Forward-looking statements involve known
and unknown risks and uncertainties and are not guarantees of
future performance. Actual outcomes and results may differ
materially from what is expressed or forecasted in these
forward-looking statements as a result of various important
factors, including, but not limited to, those disclosed in reports
Reliance has filed with the Securities and Exchange Commission (the
"SEC"). As a result, these statements speak only as of the date
that they are made, and Reliance disclaims any and all obligation
to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Important risks and uncertainties about Reliance’s business can be
found in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2017, filed with the SEC.
CONTACT: Brenda MiyamotoInvestor
Relations(213) 576-2428investor@rsac.com
or Addo Investor Relations(310) 829-5400
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