By: finanzen

Reliance Steel & Aluminum Co. (NYSE:RS) announced todaythat its subsidiary, Precision Strip, Inc., has signed an agreement toacquire certain assets and business of Flat Rock Metal ProcessingL.L.C. based in Flat Rock, Michigan. Terms were not disclosed.

Thetransaction is expected to be completed within 60 days, subject to thecompletion of due diligence. Flat Rock was founded in 2001 and is aprivately held, toll processing company with facilities in Perrysburg,Ohio and Eldridge, Iowa.

Upon completion of the acquisition, the two Flat Rock facilitieswill operate as Precision Strip locations that process and delivercarbon steel, aluminum and stainless steel products on a “toll” basis,processing the metal for a fee, without taking ownership of the metal.Precision Strip currently has facilities in Kenton, Middletown,Minster and Tipp City, Ohio; Anderson and Rockport, Indiana; BowlingGreen, Kentucky and Talladega, Alabama. Precision Strip’s customersinclude steel and aluminum mills as well as companies in theautomotive, appliance, metal furniture and capital goods industries.

Thomas A. Compton, President of Precision Strip, Inc., said, “Thisacquisition will expand our toll processing capabilities andstrengthen our geographic presence in the Midwest. Additionally, itallows us to better serve and grow our existing customer base.”

Reliance Steel & Aluminum Co., headquartered in Los Angeles,California, is one of the largest metals service center companies inthe United States. Through a network of more than 100 locations in 32states and Belgium and South Korea, the Company provides value-addedmetals processing services and distributes a full line of over 90,000metal products. These products include galvanized, hot-rolled andcold-finished steel; stainless steel; aluminum; brass; copper;titanium and alloy steel sold to more than 95,000 customers in variousindustries.

Reliance and Earle M. Jorgensen Company filed an SEC Form S-4Registration Statement and a preliminary proxy statement/prospectus onFebruary 7, 2013, as amended. Investors and security holders are urgedto read the proxy statement/prospectus that will be sent to Jorgensenstockholders regarding the proposed merger, when it becomes available,because it will contain important information. Investors and securityholders may obtain a free copy of the proxy statement/prospectus, whenit is available, and other documents filed by Reliance and Jorgensenwith the Securities and Exchange Commission at the Commission’s website at www.sec.gov. The proxy statement/prospectus and these otherdocuments may also be obtained, when available, free of charge fromReliance at www.rsac.com. Jorgensen stockholders should read thedefinitive proxy statement/prospectus carefully before making adecision concerning the merger.

Reliance and Jorgensen, and their respective directors, executiveofficers and certain other of their employees, may be solicitingproxies from Jorgensen’s stockholders in favor of the approval of themerger. Information regarding the persons who may, under SEC rules, bedeemed to be participants in the solicitation of Jorgensen’sstockholders in connection with the merger is set forth in Reliance’sproxy statement for its 2012 annual meeting, filed with the SEC onApril 15, 2012 and in Jorgensen’s proxy statement for its 2012 annualmeeting, filed with the SEC on July 21, 2012, and additionalinformation will be set forth in the definitive proxystatement/prospectus referred to above when it is filed with the SEC.

Reliance Steel & Aluminum Co.’s press releases and additionalinformation are available on the Company’s web site at www.rsac.com.The Company was named to the 2013 Forbes Platinum 400 List ofAmerica’s Best Big Companies and was also named as one of “America’sMost Admired Companies” listed in the diversified wholesaler’scategory in the March 7, 2012 issue of Fortune.

This release may contain forward-looking statements relating tofuture financial results. Actual results may differ materially as aresult of factors over which Reliance Steel & Aluminum Co. has nocontrol. These risk factors and additional information are included inthe Company’s reports on file with the Securities and ExchangeCommission.