Jan. 6, 2016
Russel Metals Acquires Fab South
Russel Metals has made the first acquisition of 2016 with the purchase of Fab South, Inc., a processing and fabrication company in Troy, Tenn. “We are pleased we were able to acquire the Fab South assets, to expand our processing capabilities and increase market share in the region serviced by our JMS Russel Metals operations,” says John Reid, president and CEO of Russel Metals, Mississauga, Ontario. Fab South offers laser tube cutting, CNC press brake services, laser sheet cutting, welding and 3D drafting.
"In the current economic climate, we believe there will be numerous opportunities to acquire companies and expand our market share given Russel Metals' strong balance sheet. We believe the consolidation of the steel service center segment, which has slowed in 2015, will pick up again in 2016,” says Brian Hedges, CEO of Russel Metals, North America’s third-largest service center company.