Namasco Extends Reach in Texas
Namasco Corp., Atlanta, has acquired Texas distributor Lake Steel Ltd. Lake Steel had sales of approximately $65 million in 2010.
Lake Steel has two Texas locations, Amarillo and Mansfield, from which it supplies customers in the surrounding states of New Mexico, Oklahoma, Colorado, Arkansas, Kansas and Louisiana. With the acquisition, Namasco will extend its presence in northern Texas, company officials say.
“The acquisition of Lake Steel is a characteristic regional addition, strengthening our previous market presence in southern Texas through two locations in the north,” says Gisbert Rühl, chairman of the management board of Germany’s Klöckner & Co SE, parent company of Namasco.
“Lake Steel has benefited from longstanding relationships with significant accounts within the agriculture, industrial fabrication, infrastructure construction and commercial construction industries. We intend to build on this foundation to reinforce Namasco’s position as a market leader throughout the southwestern U.S,” adds Bill Partalis, president and CEO of Namasco.