Ryerson Acquires TSA Processing

Rhea-AI Summary

Ryerson Holding Corporation has acquired TSA Processing, a stainless steel and aluminum coil and sheet processor with six locations across the Midwest and Southern United States. TSA will continue to operate under its current leadership and provide toll-processing capabilities. This acquisition strengthens Ryerson's value-added services and expands its network of service centers.

CHICAGO, Nov. 1, 2023 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today its acquisition of TSA Processing ("TSA"), a stainless steel and aluminum coil and sheet processor with six locations across the Midwest and Southern United States. TSA will continue to serve its customers with world-class toll-processing capabilities as it has for over 30 years under the leadership of former owners Bill Tresten and Monte Sneed.

"TSA's expertise in non-ferrous processing and polishing strengthens Ryerson's value-added services within our own industry-leading stainless and aluminum franchises," said Mike Burbach, Ryerson's Chief Operating Officer. "We are pleased to welcome TSA to the Ryerson Family of Companies as we continue to grow our capabilities and network of service centers."

Monte Sneed stated, "TSA brings over 30 years of experience in non-ferrous flat-rolled processing to the Ryerson network. We are excited to grow our business and extend our commitment to quality and service to new customers across geographies."

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 release 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 September 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.

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SOURCE Ryerson Holding Corporation

FAQ

What is the name of the company that Ryerson Holding Corporation acquired?

Ryerson Holding Corporation acquired TSA Processing.

What does TSA Processing specialize in?

TSA Processing specializes in stainless steel and aluminum coil and sheet processing.

How many locations does TSA Processing have?

TSA Processing has six locations across the Midwest and Southern United States.

Who will lead TSA Processing after the acquisition?

TSA Processing will continue to be led by its former owners, Bill Tresten and Monte Sneed.

How long has TSA Processing been in business?

TSA Processing has been in business for over 30 years.

What are the benefits of this acquisition for Ryerson Holding Corporation?

This acquisition strengthens Ryerson's value-added services and expands its network of service centers.