Another Acquisition for Reliance
By Metal Center News Staff
on Aug 3, 2016
Aug. 3, 2016 Another Acquisition for Reliance In its latest of many acquisitions, Reliance Steel & Aluminum Co., Los Angeles, has purchased Alaska Steel Co., a full-line metals distributor headquartered in Anchorage. Alaska Steel's net sales totaled $33 million in 2015. It will operate as a wholly owned subsidiary of Reliance's American Metals Corp. subsidiary. Current management will remain in place. Terms of the transaction were not disclosed. Founded in 1982, Alaska Steel boasts the largest on-hand inventory in Alaska and offers both same-day and next-day delivery from its three facilities in Anchorage, Fairbanks and Kenai. The company provides steel, aluminum, stainless and specialty metals and related processing services including shearing, sawing, plasma and flame cutting to a variety of customers in diverse industries throughout Alaska, including infrastructure, energy and mining. "Alaska Steel represents Reliance's entry into the important and significant Alaska market and furthers our geographic, customer and product diversification," says Gregg Mollins, Reliance president and CEO. "Alaska Steel has a well established reputation in Alaska and is known as the reliable provider for quick, on-time delivery of quality products and services. We are very pleased to have Alaska Steel join the Reliance family of companies."