Metals USA Holdings Corp. (NYSE: MUSA), a leading provider of processed carbon steel, stainless steel, aluminum and other metals, announced today that it has entered into an agreement to purchase an affiliate of Eagle Steel Products, Inc. which will be named Ohio River Metal Services, Inc. ("ORMS").
Located on the banks of the Ohio River in Jeffersonville, Indiana, Eagle and ORMS operate a first class flat rolled metal service center providing high quality processing and warehousing services to a broad range of customers. Under President Charles R. Moore, ORMS will continue to operate from its state of the art, 320,000 square foot facility which is served by barge, rail and truck.
"ORMS complements Metals USA's existing metals service center business in Jeffersonville and further expands the products and services our Flat Rolled and Non-Ferrous Group can provide customers throughout the Ohio Valley," stated Lourenco Goncalves, Chairman, President and C.E.O. of Metals USA Holdings Corp. "ORMS is Metals USA's second acquisition since our IPO in April of 2010, and further demonstrates our ability to execute our growth strategy," Goncalves added.
Eagle Steel Products, Inc. will continue to operate from its Louisville, KY facility under its C.E.O. and majority owner, Shirley Ohta. The transaction is expected to close in late December, 2010.
Source: http://www.metalsusa.com/