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Reliance Subsidiary Valex Opens Facility in China
Dec. 19, 2007 Reliance Steel & Aluminum Co. subsidiary, Valex Corp. has opened a facility—Valex China Co. Ltd.—in P.R. China.
Located in the Nanhui district of Shanghai, Valex China’s 24,000-square-foot facility will produce ultra-high-purity tubes, fittings, and valves for the semiconductor, LCD and solar industries. The venture is 100% owned by the Hong Kong joint-venture company Valex Holdings Ltd., and Reliance owns 88% of Valex Holdings.
“We are very excited about the opening of Valex China,” said David H. Hannah, Reliance’s Chairman and CEO. “This new facility will allow us to expand our market share in this fast-growing market by offering localized production and enhanced services to our customers, and also increases our existing global presence.”
This new venture will be the first Valex manufacturing plant based in China and will position the company to improve its already significant share of the growing Asian market. Valex Corp., a 97%-owned subsidiary of Reliance, also has operations in Ventura, Calif., and Pyongtaek, South Korea.
Headquartered in Los Angeles, Calif., Reliance Steel & Aluminum 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 U.K., the company provides value-added metals processing services and distributes a full line of over 100,000 metal products. Reliance Steel & Aluminum 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.”