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Reliance buy of PNA completed

August 05, 2008|From Times Staff and Wire Reports

Reliance Steel & Aluminum Co. said it had completed the acquisition of a smaller metal processor from Beverly Hills buyout firm Platinum Equity in a deal valued at $1.1 billion.

The purchase of PNA Group Holding Corp. of Atlanta extends a string of more than 40 acquisitions for Reliance, North America's largest metal processor, since the L.A. company went public in 1994.

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