Lakeside Steel announces its interest in acquiring the assets of Barzel
WELLAND, ON,
Headquartered in Norwood, Massachusetts, with operational hubs in Mississauga, Ontario, and
Lakeside Steel's management team and board of directors are committed to growing its business both organically and through accretive mergers and acquisitions. Lakeside Steel believes it has sufficient financing in place to complete a responsible acquisition of assets of Barzel.
Lakeside Steel believes that the combination of its business with the assets of Barzel would enable substantially increased steel purchasing power, improved operating efficiencies and streamlined logistics. A combined Lakeside Steel and Barzel would create an emerging mid-sized steel pipe, tube and processing company with a poised aggressive merger and acquisition platform.
Lakeside Steel in combination with the whole of Barzel would have a diversified product mix with pipe and tube manufacturing, slitting, pickling, and would create what management believes is the sixth largest pipe and tube company in
About Lakeside Steel
Lakeside Steel is the parent company of Lakeside Steel Corp. ("Lakeside"). Lakeside, located in Welland, Ontario, is a diversified steel pipe and tubing manufacturer. Lakeside's list of customers includes large oil and gas, mining, automotive and commercial and industrial supply companies. In addition to supplying its products in these industries, Lakeside manufactures pipe and mechanical tubing for the resale market, which is sold to distributors in Eastern
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For further information: Ron Bedard, President & Chief Operating Officer, Lakeside Steel Inc., Tel: (905) 735-7473, Fax: (905) 735-9069, [email protected]; Ken Hunter, Chief Financial Officer, Lakeside Steel Inc., Tel: (905) 735-7473, Fax: (905) 735-9069, [email protected]
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