RUSSEL METALS CLOSES ACQUISITION OF ASSETS FROM SAMUEL

TORONTO, Aug. 12, 2024 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has closed the acquisition of seven service centers located in Western Canada and the Northeast U.S. from Samuel, Son & Co., Limited ("Samuel").

John Reid, President and CEO commented, "We have worked very closely with the Samuel team over the past several months in coordinating for an orderly transition, and we now welcome the Samuel employees to the Russel family."

Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value added processing.  It carries on business in three segments: metals service centers, energy products and steel distributors.  Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.  Its energy products operations carry a specialized product line focused on the needs of energy industry customers.  Its steel distributors operations act as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an "as is" basis.

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SOURCE Russel Metals Inc.