Ryerson Acquires Norlen Incorporated

Rhea-AI Summary

Ryerson Holding Corporation acquires Norlen Incorporated, a metal fabricator, to expand its value-added business. The acquisition will strengthen Ryerson's network of service centers and provide greater in-house fabrication offerings for customers.

CHICAGO, Oct. 2, 2023 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today its acquisition of Norlen Incorporated ("Norlen"), a full-service metal fabricator based in Schofield, Wisconsin. Norlen provides stamping, machining, painting, and additional value-added fabrication services to industries including agriculture, HVAC, and defense.

"Norlen's extensive processing capabilities provide additional opportunities for Ryerson to grow our value-added business in the Midwest and beyond," said Jeff Redfield, Ryerson's President, North Region. "This acquisition will enable us to recognize synergies in supply and strengthen our network of service centers with greater in-house fabrication offerings for customers."

Corey Suthers, Norlen Vice President, stated, "Norlen has worked diligently since 1964 to expand its services to provide comprehensive metal solutions for manufacturers. We look forward to continuing to serve customers with the latest technologies 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 4,300 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; the impact of geopolitical events, including Russia's invasion of Ukraine and global trade sanctions; fluctuating metal prices; our 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; the ownership of a significant portion of our equity securities by a single investor group; work stoppages; obligations under certain employee retirement benefit plans; 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, 2022, our quarterly report on Form 10-Q for the quarter ended June 30, 2023, 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ryerson-acquires-norlen-incorporated-301944960.html

SOURCE Ryerson Holding Corporation