Reliance
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About Reliance
Industries
Industrial & Manufacturing
Consumer Goods
Company Size
501-1,000
Company Stage
IPO
Headquarters
Los Angeles, California
Founded
1939
Overview
Simplify's Take
What believers are saying
- Reliance's $1.5B credit facility boosts liquidity for strategic growth initiatives.
- Acquisitions like Cooksey Iron & Metal expand Reliance's customer base in the Southeast.
- Southern Steel Supply acquisition enhances Reliance's distribution network in the Southern U.S.
What critics are saying
- Integration challenges may arise from multiple recent acquisitions, affecting operations.
- Increased competition in the antimony market could impact Reliance's strategic positioning.
- Expansion through acquisitions may strain financial resources and increase debt levels.
What makes Reliance unique
- Reliance's acquisition strategy strengthens its position in the U.S. metals market.
- The company enhances logistics with FerrouSouth's tolling assets acquisition.
- Reliance expands its specialty steel offerings with American Alloy Steel acquisition.
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Funding
Total Funding
$1500M
Above
Industry Average
Funded Over
1 Rounds
Company News
Antimony, a silvery-white metalloid, might not be a household name, but it plays a crucial role in our modern world.It's a key ingredient in military tech, batteries, and semiconductors.And now, a global antimony crisis may be looming as demand far outstrips supply...This obscure metal has become a strategic linchpin in modern warfare – and right now, China holds all the cards.And today, we're looking at two companies that could help the West break free from China's stranglehold on this key resource.#1 Military Metals (CSE: MILI, OTCQB: MILIF)Canadian junior miner Military Metals wasted no time jumping into this game with a series of major antimony acquisitions on two continents–Europe and North America.They’re hoping to help turn the tables on Chinese domination, and they’re moving quickly to do so.Military Metals recently announced that it has purchased one of Europe’s largest antimony deposits in Slovakia with a historical resource.One of the properties acquired is Trojarova. This is a Soviet-era resource with an initial discovery from the 1950s and prior development in the ‘80s and ‘90s. It’s already seen two phases of exploration. According to Military Metals CEO Scott Eldridge, the Slovakian government’s earlier exploration was halted before they reached the richest part of the deposit.Source: Military MetalsBack then, the Cold War was winding down, and what would follow next was a destocking and the Strategic Arms Reduction Treaty (START) between the Soviets and the United States. Antimony was no longer critical.That’s all changed now. The world is at war.And Trojarova, with a historical resource of over 60,998.4 tons of antimony of in situ value worth around $2 billion at today’s spot prices—could become a military kingmaker
Reliance secures $1.5B credit facility, boosting liquidity and growth potential. Improved financials yield favorable terms, enhancing ability to pursue strategic initiatives. Learn how this impacts Reliance's future.
SCOTTSDALE, Ariz., July 15, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE: RS) announced that it has reached an agreement to purchase certain assets of the FerrouSouth division of Ferragon Corporation (“FerrouSouth”), a premier toll processing operation headquartered in Iuka, Mississippi. In addition to offering high quality flat-rolled steel processing, FerrouSouth provides logistics services including shipping and warehousing solutions within the rapidly growing Southeastern market. The FerrouSouth operations will operate as a division of Feralloy Corporation, a wholly owned subsidiary of Reliance. For the twelve months ended December 31, 2023, annual net sales for the select tolling operation were approximately $15 million. The terms of the transaction were not disclosed
SCOTTSDALE, Ariz., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Reliance Steel & Aluminum Co. (NYSE: RS) announced that it has entered into a definitive agreement to acquire all of the outstanding equity interests and related real estate assets of American Alloy Steel, Inc. (“American Alloy”), a leading distributor of specialty carbon and alloy steel plate and round bar, including pressure vessel quality (PVQ) material. Headquartered in Houston, Texas and founded in 1971, American Alloy operates five service centers in the U.S. and a plate fabrication business
SCOTTSDALE, Ariz., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Reliance Steel & Aluminum Co. (NYSE: RS) announced that it has acquired all the outstanding equity interests of Cooksey Iron & Metal Co., Inc. (“Cooksey”), a metals service center that processes and distributes finished steel products, including tubing, beams, plates and bars. Headquartered in Tifton, Georgia and founded in 1917, Cooksey operates three locations, servicing a diverse range of customers including trailer manufacturers, metal building fabricators, agricultural equipment manufacturers, structural fabricators, machine shops and others in Georgia, Florida, Alabama and South Carolina. Cooksey will operate as a subsidiary of Metals USA, a wholly owned subsidiary of Reliance
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About Reliance
Industries
Industrial & Manufacturing
Consumer Goods
Company Size
501-1,000
Company Stage
IPO
Headquarters
Los Angeles, California
Founded
1939
There are no jobs for Reliance right now.
Find jobs on Simplify and start your career today