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California and the West | IN BRIEF / STEEL

Reliance to Buy Firm to Boost Sales in Northeast

July 12, 2006|From Bloomberg News

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.

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