Le Lézard
Classified in: Mining industry, Business
Subject: TNM


OAKVILLE, ON, Dec. 4, 2023 /PRNewswire/ - Samuel, Son & Co., Limited (Samuel), a leading metals distributor and industrial products manufacturer, today announced that it has entered into an agreement to sell its Western Canadian and U.S. carbon plate Service Center operations to Russel Metals Inc. (Russel) for approximately $225 million, subject to closing working capital and other normal course adjustments. The transaction is subject to regulatory approval and other customary closing conditions.

Colin Osborne, President and CEO of Samuel, stated, "Samuel has a longstanding reputation as one of North America's leading metals distribution companies. We will continue to build on this legacy with a Service Center business that will now focus on growing customer relationships in Central and Eastern Canada and the U.S., while simultaneously accelerating our investment in additional growth opportunities across the business. We are proud of the strength of the operations we are selling to Russel, which we believe can be made even stronger as part of this newly combined business. On behalf of Samuel, I would like to extend our appreciation to the team members who will be joining Russel for playing such an important role in our Service Center business."

Western Canada Service Center locations in Winnipeg, MB; Nisku, AB; Calgary, AB; Surrey, BC; and Langley, BC will be included in the transaction. U.S. carbon plate branches in Neville Island, PA and Buffalo, NY will also be part of the transaction.

Following the anticipated close of this transaction, Samuel will continue operating a leading network of Service Center locations across North America, in addition to its automotive and diversified manufacturing divisions.

About Samuel

Founded in 1855, Samuel, Son & Co., Limited, is a family-owned integrated network of metal manufacturing, processing and distribution divisions. Samuel employees provide metals, industrial products and related value-added services from locations across North America. The company leverages its industry expertise, breadth of experience and the passion of its people to help drive success for North American business ? one customer at a time. For more information visit Samuel.com.

SOURCE Samuel Son & Co., Limited

These press releases may also interest you

at 09:28
AGM Group Holdings Inc. ("AGMH" or the "Company") , an integrated technology company focusing on providing fintech software services and producing high-performance hardware and computing equipment, today unveiled its strategic upgrade aimed at...

at 09:26
NAS Investment Solutions (NASIS), a national sponsor known for high quality passive real estate investments with reliable yield performance, has acquired Broadway Apartments, a three story, 120-unit multifamily property complex in Des Moines, IA. ...

at 09:26
Eco Wave Power Global AB (publ)  is pleased to announce that the portrait of Founder and CEO of Eco Wave Power, Inna Braverman, will be presented during a special interactive art exhibition that will take place in the United Nations Headquarters in...

at 09:24
100GROUP, a leading name in business management software and payment processing, is excited to announce the progress of its Michigan branch, led by Managing Partner Sarah McKee and bolstered by the support of Jeff Brodsly, CEO of 100GROUP. Nestled in...

at 09:20
via IBN -- Mullen Automotive Inc. ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, today announces the Company began Class 1 EV cargo van road testing...

at 09:15
Vibe.co, the "Google Ads of Streaming," announced today a successful Series A funding round of $22.5M USD led by venture firm Singular. They plan to leverage these funds to continue building a more efficient streaming TV advertising ecosystem and...

News published on and distributed by: