Los Angeles-based Reliance Steel & Aluminum Co. agreed to acquire general line and long bar distributor Fry Steel Co. Inc., with closing expected in early 2020. Deal terms were not disclosed.
Fry Steel performs cutting services on over 8,000 types and conditions of long bar products including stainless, alloy, aluminum, carbon, brass and bronze.
Reliance said Dec. 17 that the acquisition is in line with its strategy of acquiring high-margin businesses focused on specialty products.
For the third quarter, Reliance booked a 9.7% yearly rise in earnings to US$162.7 million.