Reliance, Inc. Acquires Mid-West Materials, Inc. in Major Deal

Breaking : SCOTTSDALE, Ariz., April 2, 2024 - Reliance, Inc.
(NYSE: RS), a leading metal service center operator, has announced its acquisition of Mid-West Materials, Inc., a prominent flat-rolled steel service center.
With this strategic move, Reliance, Inc.
aims to expand its services primarily catering to North American Original Equipment Manufacturers (OEMs).
The deal was concluded on undisclosed terms.

Mid-West Materials, headquartered in Perry, OH, was established in 1952 and has since become a premier provider of steel products in various categories, including hot-rolled, high-strength hot-rolled, coated, and cold-rolled materials.
Their clientele includes numerous industries such as trailer manufacturing, agriculture, metal fabrication, and building products.

Notably, the existing management team of Mid-West Materials will remain in place, ensuring a smooth transition and seamless continuation of operations.
The acquisition is expected to enhance Reliance, Inc.'s product portfolio and strengthen its market presence.

In the fiscal year ending December 31, 2023, Mid-West Materials recorded impressive annual net sales of approximately $87 million, showcasing its substantial growth and thriving business.
The acquisition presents a promising opportunity for Reliance, Inc.
to further expand its customer base and bolster its revenue.

Reliance, Inc., operating under the name Reliance Steel and Aluminum Co., boasts a diverse metal service center network, offering a wide range of products and value-added processing services to multiple industries.
Currently, the company's shares are trading at $333.14 and have been gaining momentum.
With the stock only 1.7% away from its 52-week high of $337.015, investor interest in RS shares remains strong.

The acquisition of Mid-West Materials marks a significant milestone for Reliance, Inc., as it solidifies the company's position in the steel market and paves the way for continued growth and success.

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