Russel Metals Announces the Acquisition of Western Fiberglass Pipe Sales
TORONTO –Â Russel Metals Inc. (RUS - TSX) announced today that it completed the acquisition of the operations of Western Fiberglass Pipe Sales.
Western Fiberglass is a leading distributor of fibreglass down hole tubing casing, facility pipe and line pipe within the oil and gas industry servicing Western Canada, with offices located in Estevan, Saskatchewan and Red Deer, Alberta. Western Fiberglass had annual revenues of approximately $30 million. The newly acquired business will operate under the name Apex Western Fiberglass.
Don White, President of Apex Distribution, commented "We are extremely pleased to add the operations of Western Fiberglass to our network of oilfield operations. Their fiberglass pipe and fitting product line, design capabilities and technical installation services will provide added value to our customer base. Fibreglass is a viable alternative to steel applications in the oil and gas industry that provides less maintenance, low installation cost, improved flow capacity and long service life."
Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Alberta Industrial Metals, Apex Distribution, Apex Monarch, Apex Remington, Apex Western Fiberglass, Arrow Steel Processors, BT Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Siemens Laserworks, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular Supply, Wirth Steel and York-Ennis.
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SOURCE Russel Metals Inc.
CONTACT: Marion E. Britton, Executive Vice President and Chief Financial Officer, Russel Metals Inc., (905) 819-7777, E-mail: info@russelmetals.com, Web site: www.russelmetals.com
Web Site: http://www.russelmetals.com
