RUSSEL METALS CLOSES ACQUISITION OF SEVEN SERVICE CENTERS FROM KLOECKNER

Executive Summary

• Russel Metals Inc. completed the purchase of seven U.S. service centers from Kloeckner Metals Corporation for US $102 million (subject to working‑capital adjustments).
• The acquisition expands Russel’s footprint into key geographic markets across Iowa, North Carolina, Georgia, Texas, and Florida.
• Management highlighted the strategic fit and integration of Kloeckner employees into the Russel family.

Key Details

• Transaction Value: US $102 million cash purchase price.
• Assets Acquired: Seven metals service centers located in Dubuque (IA), Charlotte (NC), Suwanee (GA), Houston (TX), Austin (TX), Jacksonville (FL) and Pompano Beach (FL).
• Seller: Kloeckner Metals Corporation.
• Closing Conditions: Subject to normal‑course working capital adjustments at closing.
• Strategic Rationale: Enhances Russel’s U.S. distribution network, broadens product offering, and supports growth in value‑added processing services.
• Management Comment: “We look forward to expanding our US footprint in key geographic areas. We welcome the Kloeckner employees to the Russel family.” – John Reid, President & CEO.

Notable Quotes

“We look forward to expanding our US footprint in key geographic areas. We welcome the Kloeckner employees to the Russel family.” – John Reid, President and CEO, Russel Metals Inc.