Service Centers
November 10, 2022
Written by Becca Moczygemba
Canadian service center Russel Metals posted lower earnings in the third quarter of 2022 on falling prices and customer destocking.
The Mississauga, Ontario-based service center posted net sales of Canadian $1.27 billion ($938.58 million USD) in third quarter of this year, up 15% from $1.11 billion in the same quarter in 2021.
Russel Metals posted solid second-quarter earnings. The Toronto-based company anticipates a continuation in steady demand for its service centers and steel distributors.
Flack Global Metals (FGM) said it has completed an investment in Windsor America, parent of Windsor Door, Garage Door Services of USA and Lodi Door.
Despite an uncertain economic outlook, Olympic Steel is expecting demand to remain steady in the current quarter.
Jackson, Mich.-based Alro Steel said it plans to acquire Heimansohn Steel, a metals service center based in Clarksville, Tenn. Alro’s aquisition is expected to close by July 28, the company said in a news release on July 11. “We are excited to welcome Heimansohn Steel to the Alro family. This acquisition will benefit our customers with […]
Leeco Steel has acquired Texas plate processor Titan Steel. Titan Steel, based in Alvarado, Texas, specializes in plasma and oxy-fuel cutting and machining of steel plate. The acquisition will allow Leeco to produce parts that require precision machining and milling. The purchase closed on June 30. Terms of the deal were not disclosed. As of […]