Reliance Steel & Aluminum Co. announced today that, effective August 1, 2014, it has acquired all of the capital stock of Aluminium Services UK Limited, the holding company parent of All Metal Services ("AMS"), the world's largest independent raw material service provider to the aerospace and defense industries.
Established in 1974, AMS provides comprehensive materials management solutions to leading aerospace and defense OEMs and their subcontractors on a global basis, supporting customers in more than 40 countries worldwide. AMS offers a broad range of aerospace metals including aluminum, steel, titanium, nickel alloys and aluminum bronze, offering full or cut to size materials. AMS also offers in-house machining and water-jet cutting for more complex requirements. AMS has five locations in the United Kingdom (London, Belfast, Birmingham, Bolton and Bristol), along with locations in France, Malaysia and China as well as a sales office in India. Net sales for AMS were approximately GBP 174.9 million for the twelve months ended December 31, 2013. AMS will operate as a wholly-owned subsidiary of Reliance Steel & Aluminum Co., through UK holding companies. Current management will remain in place. Additional transaction terms were not disclosed.
"We are excited to expand our aerospace presence in this growing market," said David H. Hannah, Chairman and CEO of Reliance. "This acquisition is especially attractive given the current and anticipated growth of the global aerospace industry. AMS is a well-established and trusted supplier to the aerospace and defense markets and we look forward to continuing to support their existing global customer base while maximizing opportunities for growth."
About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and eleven countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
Source: http://www.rsac.com/