Reliance Steel and Aluminum has just completed its acquisition of Ohio-based Precision Strip Inc for approximately $220 million, including about $26 million of debt.
Precision Strip is a metals processing operation concerned with slitting and blanking of flat rolled products such as carbon steels, aluminium and stainless steel. They have operations in Ohio, Indiana, Kentucky and Alabama.
They will retain management and employees and will operate as a subsidiary of Reliance Steel and Aluminum.
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