Reliance Steel to Buy GH Metal Solutions

Reliance Steel & Aluminum Co. RS announced today that, through its wholly-owned subsidiary Feralloy Corporation, it has reached an agreement to purchase all of the outstanding capital stock of GH Metal Solutions, Inc. (formerly known as Gas House, Inc.), a value added processor and fabricator of carbon steel products located in Fort Payne, Alabama. Founded in 1958, GH's processing equipment includes flat-bed lasers, tube lasers, torches, shears, automatic band saws, CNC press brakes, coil-fed and hand-fed stampers, and robotic and manual welders. For the year 2011, annual sales were approximately $44M. The transaction is expected to be finalized within 30 days, subject to customary closing conditions. Terms were not disclosed.