Reliance Acquires Perforated Metal Specialist
Reliance Steel & Aluminum Co., Los Angeles, has acquired Diamond Consolidated Industries Inc. Combined sales for the Diamond companies for the first nine months of 2010 were $75 million.
Among those properties acquired include Diamond Manufacturing Co., Wyoming, Pa., and Diamond Manufacturing Midwest, Michigan City, Ind. The Diamond facilities specialize in the manufacture and sale of specialty engineered perforated materials.
Other companies acquired in the deal include Perforated Metals Plus, a distributor of perforated metals located in Charlotte, N.C.; and Dependable Punch Corp., a manufacturer of custom punches for tools and dies, Wyoming, Pa.
All will operate as divisions of Diamond Manufacturing Co., a subsidiary of Reliance. Current management, including CEO Charles D. Flack Jr., will remain in place.
“We are very pleased to have Diamond join the Reliance family of companies. We believe they are the premier perforated metals specialists in the United States. In addition to expanding Reliance’s product line into perforated metals, it also enhances our processing breadth with high value-added services,” says David H. Hannah, chairman and CEO of Reliance.