Service Centers
November 5, 2021
Russel Reports "Exceptionally Strong" Third Quarter
Written by Tim Triplett
Canada’s Russel Metals reported “an exceptionally strong third quarter built on the back of a really strong Q2.” Company executives on Friday’s earnings call pointed to the various moves the company has made in the past two years to position it to take advantage of the prevailing market conditions.
Most recent was this week’s announcement of Russel’s $110 million acquisition of Boyd Metals, which operates five service centers in the U.S. Southwest (see related article in this issue). Mergers and acquisitions are a key component of Russel’s growth strategy, said Russel President and CEO John Reid. “We see lots of activity out there in the M&A pipeline for the next 12-24 months.”
