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Steel Processors
Reliance Completes Acquisition of Metalweb
Oct. 3, 2007 Reliance Steel & Aluminum Co. has completed its purchase of the outstanding capital stock of Metalweb plc. Terms were not publicly disclosed.
Established in 2001, Metalweb specializes in the processing and distribution of products for non-structural aerospace components and general engineering parts used in high-end industrial applications. Metalweb plc’s net sales for the fiscal year ended May 31, 2007 were approximately $53 million.
“We are very pleased to have Metalweb as part of Reliance and to have the opportunity to expand our European presence,” said David H. Hannah, Chief Executive Officer. Derek Webb, Managing Director of Metalweb plc, said, “Metalweb will now be in a far stronger position going forward to meet the increasing challenges and opportunities of globalization for our customers.”
Metalweb will operate as a subsidiary of Reliance. Current management will remain in place with Derek Webb serving as Managing Director.
Headquartered in Los Angeles, Calif., Reliance Steel & Aluminum Co. is one of the largest metals service center companies in the United States. Through a network of more than 180 locations in 37 states and Belgium, Canada, China, South Korea and the United Kingdom, the company provides value-added metals processing services and distributes a full line of over 100,000 metal products. These products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel sold to more than 125,000 customers in various industries.
The company was named to the 2007 “Fortune 500” List, the Fortune 2007 “100 Fastest Growing Companies” List, the Fortune 2007 List of “America’s Most Admired Companies” and the 2007 Forbes “Platinum 400 List of America’s Best Big Companies.”
Metalweb, a metals service center company, is headquartered in Birmingham, England, and has three additional service centers located in London, Manchester, and Oxford, England.