Form_8-K_2008-01-07reliance steel & aluminum

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Form_8-K_2008-01-07reliance steel & aluminum

  1. 1. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 7, 2008 RELIANCE STEEL & ALUMINUM CO. (Exact name of registrant as specified in its charter) California 001-13122 95-1142616 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation) Identification Number) 350 S. Grand Ave., Suite 5100 Los Angeles, CA 90071 (Address of principal executive offices) (213) 687-7700 (Registrant’s telephone number, including area code) Not applicable. (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  2. 2. Item 8.01 Other Events. On January 7, 2008 Reliance Steel & Aluminum Co. (“Company”) announced that it sold the assets and business of the Encore Coils division of Encore Group Limited, a subsidiary of the Company and headquartered in Alberta, Canada (“Encore Group”), to Samuel, Son & Co., Ltd., headquartered in Ontario, Canada (“Buyer”). The Company acquired Encore Group, which included the Encore Metals, Encore Metals (USA), Inc. (together, “Encore Metals”), Encore Coils, and Team Tube Canada ULC (“Team Tube”) divisions, effective February 1, 2007. The Company will retain the Encore Metals and Team Tube divisions. The Encore Coils division processes and distributes carbon steel flat-rolled products through 5 facilities located in Western Canada. The net sales of Encore Coils for fiscal year ended December 31, 2007 were about U.S. $50 million. Terms were not disclosed. The Buyer is not affiliated with or related to the Company in any way. The purchase price was determined by negotiations between the Company, on the one hand, and the Buyer, on the other. A copy of the press release related to the transaction is attached as an exhibit. Item 9.01 Financial Statements and Exhibits. (a) Financial Statements of Businesses Acquired. N/A (b) Pro Forma Financial Information. N/A (c) Exhibits. Exhibit No. Description 99.1 Press Release dated January 7, 2008
  3. 3. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. RELIANCE STEEL & ALUMINUM CO. By /s/ David H. Hannah Dated: January 7, 2008 David H. Hannah Chairman and Chief Executive Officer
  4. 4. RELIANCE STEEL & ALUMINUM CO. FORM 8-K INDEX TO EXHIBITS Exhibit No. Description 99.1 Press Release dated January 7, 2008.
  5. 5. Exhibit 99.1 FOR IMMEDIATE RELEASE CONTACT: Kim P. Feazle Investor Relations (713) 610-9937 (213) 576-2428 kfeazle@rsac.com investor@rsac.com RELIANCE STEEL & ALUMINUM CO. ANNOUNCES SALE OF ENCORE COILS BUSINESS Los Angeles, CA — January 7, 2008 — Reliance Steel & Aluminum Co. (NYSE:RS) announced today that it has sold the assets and business of the Encore Coils division of Encore Group Limited, a subsidiary of Reliance, to Samuel Son & Co., Ltd., headquartered in Mississauga, Ontario, Canada. Terms were not disclosed. Reliance acquired the Encore Group of metals service center companies (Encore Metals, Encore Metals (USA), Inc., Encore Coils, and Team Tube in Canada) effective February 1, 2007. The Encore Metals and Team Tube divisions of the Encore Group, which Reliance will retain, specialize in the processing and distribution of alloy and carbon bar and tube, as well as stainless steel sheet, plate and bar products through 12 locations. The Encore Coils division processes and distributes carbon steel flat- rolled products through its five facilities located in Western Canada. For the year ended December 31, 2007, the net sales of Encore Coils were approximately $50 million. Reliance’s Chairman and Chief Executive Officer, David H. Hannah, said, “The most important part of the Encore Group to us is its specialty metals business, which we will retain. The Encore Coils business did not fit well for us because we do not have any similar facilities nearby that could help support this relatively small business. The sale of the Encore Coils business to Samuel allows us to exit this market without disrupting the Encore Coils customer base.” (more)
  6. 6. 2-2-2 Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is one of the largest metals service center companies in the United States. Through a network of more than 180 locations in 37 states and Belgium, Canada, China, South Korea and the United Kingdom, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products. These products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel sold to more than 125,000 customers in various industries. Reliance Steel & Aluminum Co.’s press releases and additional information are available on the Company’s web site at www.rsac.com. The Company was named to the 2007 “Fortune 500” List, the Fortune 2007 “100 Fastest Growing Companies” List, the Fortune 2007 List of “America’s Most Admired Companies” and the 2008 Forbes “Platinum 400 List of America’s Best Big Companies.” This release may contain forward-looking statements relating to future financial results. Actual results may differ materially as a result of factors over which Reliance Steel & Aluminum Co. has no control. These risk factors and additional information are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006 and other reports on file with the Securities and Exchange Commission. ###

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