Reliance to Buy Firm to Boost Sales in Northeast
Reliance Steel & Aluminum Co. agreed to buy Yarde Metals Inc., which processes and distributes stainless-steel and aluminum-plate products, to increase sales in the Northeast.
Yarde Metals had sales of $385 million in the year ended June, Los Angeles-based Reliance said. Reliance said it expected the transaction to be completed within 60 days. The purchase price wasn’t disclosed.
Connecticut-based Yarde Metals has metal-service centers in New Hampshire, New Jersey, New York, North Carolina, Ohio and Pennsylvania.
Shares of Reliance Steel fell 13 cents to $80.77.