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Wednesday, April 4, 2012

Reliance Steel buys National Specialty Alloys, (NYSE: RS)

Reliance Steel & Aluminum Co has acquired National Specialty Alloys, a specialty alloy processor and distributor of premium stainless steel and nickel alloy bars and shapes.Terms of the transaction were not disclosed.Reliance said on Wednesday that current management of NSA, which is based in Houston, will remain in place with Mark Russ continuing as president.NSA, founded in 1985 and with locations in Anaheim, California; Buford, Georgia; and Tulsa, Oklahoma, had net sales of $96 million in the 12 months ended Oct. 31.

Reliance Steel & Aluminum Co. (Reliance) is a metals service center company in North America (the United States and Canada). Shares of RS remained unchanged at $55.90. In the past year, the shares have traded as low as $31.09 and as high as $60.60. On average, 661756 shares of RS exchange hands on a given day and today's volume is recorded at 0.