Reliance, Inc To Acquire Tolling Assets from FerrouSouth, Financial Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
Reliance, Inc. (NYSE:RS) announced an agreement to acquire certain assets of FerrouSouth, a division of Ferragon Corporation. FerrouSouth specializes in flat-rolled steel processing and logistics services. The transaction is expected to close within 30 days, with annual net sales for the acquired operations around $15 million.
July 15, 2024 | 10:51 am
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Reliance, Inc. (NYSE:RS) is acquiring assets from FerrouSouth, enhancing its steel processing and logistics capabilities. The acquisition is expected to close within 30 days and will add approximately $15 million in annual net sales.
The acquisition of FerrouSouth assets will enhance Reliance's capabilities in steel processing and logistics, potentially leading to increased revenues and market share in the Southeastern market. The addition of $15 million in annual net sales is a positive indicator for short-term growth.
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