Reliance Steel acquires outstanding capital stock of Lampros Steel
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Reliance Steel acquires outstanding capital stock of Lampros Steel

Reliance Steel & Aluminum Co announced that it has acquired the outstanding capital stock of Lampros Steel Inc and a related interest in Lampros Steel Plate Distribution LLC.

Lampros Steel Inc is a steel service center company specializing in structural steel shapes with a facility located in Portland. Lampros Steel Plate Distribution LLC owns a 50% interest in a partnership, LSI Plate, that is a distributor of carbon steel plate with locations in California and Oregon.

Lampros Steel Inc was founded in 1983 by Milt and Marcus Lampros and the partnership was founded in 1999. The combined revenues of Lampros Steel Inc and LSI Plate for the year ended December 31st 2009 were USD 29 million. Lampros will operate as a subsidiary of American Metals Corporation, a wholly owned subsidiary of Reliance Steel & Aluminum Co. Current management will remain in place with Mr Milt Lampros serving as president of Lampros Steel Inc.

Mr David H Hannah chairman & CEO of Reliance Steel said that "We look forward to the addition of Lampros Steel as a part of Reliance. Lampros has a strong reputation for customer service in the Pacific Northwest area and will complement our network of facilities."

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