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Reliance acquires Lampros structural steel company | | Edit:Jason Click:4523 Time:2010-12-24 17:49:18 | Metals service center company Reliance Steel & Aluminum Co. said Friday it has purchased Lampros Steel Inc., a Portland, Ore., company that specializes in structural steel.
 As part of the deal, Los Angeles-based Reliance also gets a stake in Lampros Steel Plate Distribution LLC, which owns a 50 percent interest in LSI Plate, a carbon steel plate distributor.
Lampros Steel and LSI Plate had combined revenue of $29 million last year. Lampros will become a subsidiary of Reliance's American Metals Corp. Current management will remain in place.
Terms of the deal were not disclosed.
Shares of Reliance rose 56 cents to $48.77 in morning trading. | | [ Back ] [Print ] |
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