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Sky Island Capital has acquired Hillside, N.J.-based Polished Metals Limited. Polished Metals is one of the country’s largest polishers and suppliers of architectural and ornamental metals, offering a variety of finishes and metals to several end markets, including the architecture and design community, elevators, escalators, transportation. Sky Island Capital is a lower middle-market private equity firm based in Dallas, Tex.
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Russel Metals has appointed Martin Juravsky as the new chief financial officer. He will replace Marion Britton, who announced her retirement from the company in 2019, but will remain with the company throughout 2020 to ensure a smooth transition.
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Reliance Steel & Aluminum Co., Los Angeles, reported net income of $701.5 million in 2019, a 10.7 percent increase from the prior year. The company’s net sales in 2019 were down 4.9 percent to $11 billion.
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Reliance Steel & Aluminum Co., Los Angeles, has launched a new e-commerce business, FastMetals, Inc., Massillon, Ohio, which offers a catalogue pricing model for a diverse selection of metal products including carbon, stainless, aluminum and specialty alloy steels. FastMetals ships nationwide and has direct access to Reliance’s vast network of metals service center locations, which carry more than 100,000 products to more than 125,000 customers in a broad range of industries.
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Steel shipments increased in the United States in January, reversing the mostly downward trend that characterized 2019, the Metals Service Center Institute reported. Aluminum shipments, however, declined for the fourth straight month, and shipments of both products declined in Canada.
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Ben Schmidt has been promoted to industry sales manager for Bradbury, Moundridge, Kan. He has been with Bradbury for 14 years, serving as industry sales leader since 2015.
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Two stainless steel trade associations have launched new websites. The Specialty Steel Industry of North America, a voluntary trade association representing the majority of producers of specialty metals on the continent, has developed a new site at www.ssina.com.
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Samuel, Son & Co. Ltd., a leading metals distributor and industrial products manufacturer, has acquired the remaining shares of Burloak Technologies, a leader in the additive manufacturing industry.
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Cleveland Cliffs Inc. and AK Steel Holding Corp. have extended the expiration date in connection with the previously announced exchange offers by Cliffs and consent solicitations by AK Steel to March 13. The companies expect to close their merger on the new expiration date, earlier than anticipated.
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Worthington Industries Inc., Columbus, Ohio, will consolidate its oil and gas equipment manufacturing operation in Wooster, Ohio, into its existing facility in Bremen, Ohio. The consolidation will help utilize available capacity at Bremen which manufactures similar products. The closure of the Wooster operation is expected to be complete by May 31.
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