Reliance Steel & Aluminum Buys Admiral Metals For Undisclosed Sum

(RTTNews) - Reliance Steel & Aluminum Co. (RS), a diversified metal solutions provider, said on Tuesday that it has acquired Admiral Metals Servicecenter Company, Inc., a distributor of non-ferrous metal products, for an undisclosed sum.

Admiral Metals' products include aluminum, brass, bronze, copper, stainless steel and steel.

Jim Hoffman, Chief Executive Officer of Reliance, commented: "Admiral Metals fits within Reliance's growth strategy and disciplined methodology of acquiring companies that are immediately accretive to our earnings, and complements Reliance's existing business by increasing our product breadth in specialty non-ferrous products."

For the fiscal 2020, Admiral Metals' annual net sales were approximately $134 million.