TORONTO, Dec. 12, 2016 /CNW/ - Russel Metals Inc. (RUS - TSX) announced today that through its subsidiary JMS Russel Metals Corp., it has acquired the operating assets of Jackson Pipe & Steel, a distributor with value-add capabilities based out of Texarkana, Texas.
John Reid, President and Chief Operating Officer stated "we are extremely pleased to welcome Jackson Pipe's customers and the employees to the JMS Russel Metals team. The addition of key employees, their facility and equipment will complement the existing JMS facility in Hope, Arkansas and enable us to enhance our value added services plus increase market share in Texas, Arkansas, Oklahoma and Louisiana, the areas previously serviced by Jackson Pipe."
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, B&T 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 Processing, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.
Cautionary Statement on Forward-Looking Information
Certain statements contained in this press release constitute forward-looking statements or information within the meaning of applicable securities laws, including statements as to our outlook, future events or our future performance. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions that, while considered reasonable by us, inherently involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the factors described below.
While we believe that the expectations reflected in our forward-looking statements are reasonable, no assurance can be given that these expectations will prove to be correct, and our forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release and, except as required by law, we do not assume any obligation to update our forward-looking statements. Our actual results could differ materially from those anticipated in our forward-looking statements including as a result of the risk factors described under the heading "Risk" in our MD&A and under the heading "Risks Related to Our Business and the Metals Distribution Industry" in our most recent Annual Information Form and as otherwise disclosed in our filings with securities regulatory authorities which are available on SEDAR at www.sedar.com.
SOURCE Russel Metals Inc.
For further information: Marion E. Britton, CPA, CA, Executive Vice President and Chief Financial Officer, Russel Metals Inc., (905) 819-7407, E-mail: firstname.lastname@example.org, Website: www.russelmetals.com