CHICAGO, Dec. 4, 2023
/PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a
leading value-added processor and distributor of industrial metals,
announced today its acquisition of Hudson Tool Steel Corporation
("Hudson"), a supplier of tool steels and high-speed, carbon, and
alloy steels. Hudson is headquartered in Cerritos, California, with additional
locations in Loves Park, Illinois
and Dover, New Hampshire.
"Hudson's offering of high-quality standard and specialty-grade
tool steel builds upon Ryerson's expanding tool steel business,"
said Mike Burbach, Ryerson's Chief
Operating Officer. "Hudson's expertise, together with existing tool
steel capabilities within the Ryerson Family of Companies, will
enable us to better serve customers across our network."
Rick Resner, Hudson's President,
stated, "Since 2002, Hudson Tool Steel has provided customers from
coast to coast with tool steel, high speed steel, carbon, and
alloy. Always true to our motto, 'We make tool steel easy,' we're
excited to continue our strategic growth within the North American
tool steel market as part of the Ryerson Family of Companies."
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 has around
4,300 employees in approximately 100 locations. Visit Ryerson at
www.ryerson.com.
Safe Harbor Provision
Certain statements made in this release and other written or
oral statements made by or on behalf of the Company constitute
"forward-looking statements" within the meaning of the federal
securities laws, including statements regarding our future
performance, as well as management's expectations, beliefs,
intentions, plans, estimates, objectives, or projections relating
to the future. Such statements can be identified by the use of
forward-looking terminology such as "objectives," "goals,"
"preliminary," "range," "believes," "expects," "may," "estimates,"
"will," "should," "plans," or "anticipates" or the negative thereof
or other variations thereon or comparable terminology, or by
discussions of strategy. The Company cautions that any such
forward-looking statements are not guarantees of future performance
and may involve significant risks and uncertainties, and that
actual results may vary materially from those in the
forward-looking statements as a result of various factors. Among
the factors that significantly impact our business are: the
cyclicality of our business; the highly competitive, volatile, and
fragmented metals industry in which we operate; the impact of
geopolitical events, including Russia's invasion of Ukraine and global trade sanctions;
fluctuating metal prices; our indebtedness and the covenants in
instruments governing such indebtedness; the integration of
acquired operations; regulatory and other operational risks
associated with our operations located inside and outside of
the United States; the ownership
of a significant portion of our equity securities by a single
investor group; work stoppages; obligations under certain employee
retirement benefit plans; currency fluctuations; and consolidation
in the metals industry. Forward-looking statements should,
therefore, be considered in light of various factors, including
those set forth above and those set forth under "Risk Factors" in
our annual report on Form 10-K for the year ended December 31, 2022, our quarterly report on Form
10-Q for the quarter ended September 30,
2023 and in our other filings with the Securities and
Exchange Commission. Moreover, we caution against placing undue
reliance on these statements, which speak only as of the date they
were made. The Company does not undertake any obligation to
publicly update or revise any forward-looking statements to reflect
future events or circumstances, new information or otherwise.
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SOURCE Ryerson Holding Corporation