Reliance acquires American Alloy Steel to boost portfolio
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Reliance, Inc. has acquired American Alloy Steel, a specialty steel distributor based in Houston, Texas. The acquisition is part of Reliance's strategic initiative to enhance its value-added processing and fabrication capabilities and expand its specialty carbon steel plate product offerings. American Alloy Steel reported annual net sales of approximately $310 million for the year ending December 31, 2023. The existing management team of American Alloy will continue to lead the company. Reliance, headquartered in Scottsdale, Arizona, operates as the largest metals service center company in North America with a network of over 315 locations across 40 states and 12 countries. The acquisition is expected to be immediately accretive to Reliance's operations.



https://www.investing.com/news/stock-market-news/reliance-acquires-american-alloy-steel-to-boost-portfolio-93CH-3363414