Ryerson Acquires Howard Precision Metals
Ryerson Holding Corporation (NYSE: RYI) has announced its acquisition of Howard Precision Metals, Inc., a prominent aluminum distributor in the Midwest, based in Milwaukee, Wisconsin. The acquisition aims to enhance Ryerson's value-added processing capabilities, particularly in precision cut aluminum plate and saw cut extruded aluminum bar distribution. Ryerson's Chief Operating Officer, Mike Burbach, emphasized the synergy expected from integrating Howard's operations, which aligns with Ryerson's non-ferrous franchise and customer service ethos.
- Acquisition of Howard Precision Metals enhances Ryerson's processing capabilities in aluminum.
- The integration is expected to create significant synergies within Ryerson's non-ferrous franchise.
- Howard's strong brand reputation for customer service aligns with Ryerson's values.
- None.
CHICAGO, Sept. 1, 2022 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today its acquisition of Howard Precision Metals, Inc. ("Howard"), one of the largest aluminum distributors in the Midwest. Based in Milwaukee, Wisconsin, Howard specializes in value-added processing services including high-quality precision cut aluminum plate and saw cut extruded aluminum bar distribution.
"Howard has cultivated a strong brand and a reputation for creating excellent customer experiences," said Mike Burbach, Ryerson's Chief Operating Officer. "Its processing capabilities complement Ryerson's existing non-ferrous franchise, and we are excited to recognize these synergies as we welcome them to the Ryerson Family of Companies."
"Building on our legacy of over 90 years in the industry, Howard is excited for this opportunity to grow our brand and business with a company that shares our values and commitment to customers," said Mark Howard, President of Howard. "We look forward to continuing to provide excellent service to our customers as a member of the Ryerson Family of Companies."
About Ryerson
Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,000 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.
Safe Harbor Provision
Certain statements made in this presentation and other written or oral statements made by or on behalf of the Company constitute "forward-looking statements" within the meaning of the federal securities laws, including statements regarding our future performance, as well as management's expectations, beliefs, intentions, plans, estimates, objectives, or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as "objectives," "goals," "preliminary," "range," "believes," "expects," "may," "estimates," "will," "should," "plans," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented metals industry in which we operate; fluctuating metal prices; our substantial indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; impacts and implications of adverse health events, including the COVID-19 pandemic; work stoppages; obligations under certain employee retirement benefit plans; the ownership of a majority of our equity securities by a single investor group; currency fluctuations; and consolidation in the metals industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2021, and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.
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SOURCE Ryerson Holding Corporation
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