Dec 22, 2020
Russel Metals to buy metals service centre Sanborn Tube Sales of Wisconsin
The Canadian Press
Expecting Industrial metals to 'outperform' precious metals in a cyclical recovery: Investment strategist
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Russel Metals Inc. says it has signed a deal to buy Sanborn Tube Sales of Wisconsin Inc.
Financial terms of the deal for the metals service centre were not immediately available.
Russel Metals says the Sanborn operation is based in Pewaukee, Wis., and is close to its three Wisconsin service centers.
Russel Metals CEO John Reid says Sanborn is a well-established company that has been both a customer and supplier to Russel's Wisconsin division.
The company says that over the past several years Sanborn has generated annual sales of approximately US$19 million across a diverse base of industrial customers.
The deal is expected to close by the end of the year.
