Russel Metals

RUSSEL METALS ANNOUNCES CHANGES TO THE BOARD OF DIRECTORS

Retrieved on: 
Tuesday, January 2, 2024
CPA, Business administration, RBC Dominion Securities, Retirement, RBC, MBA, RBC Capital Markets, University, Harvard University, TSX, Metal, Russel Metals, Management

TORONTO, Jan. 2, 2024 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces the retirement of Linh Austin from the Board of Directors and the appointment of Stewart Burton as an independent Director.

Key Points: 
  • TORONTO, Jan. 2, 2024 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces the retirement of Linh Austin from the Board of Directors and the appointment of Stewart Burton as an independent Director.
  • Russel Metals' Board Chair Jim Dinning extended his appreciation for Mr. Austin's service and commented "I want to thank Linh for his contributions to our Board and wish him well."
  • Jim Dinning commented, "We welcome Stewart Burton to Russel Metals.
  • Stewart's extensive business experience and his deep knowledge of global capital markets will add to the strength of our Board of Directors and be a benefit to shareholders.

Russel Metals to Acquire Seven Service Centers in Western Canada and the US NE from Samuel, Son & Co., Limited

Retrieved on: 
Monday, December 4, 2023
Acquisition, International, Midwestern United States, Metal, Conference, Samuel, Son & Co., Hand, Russel Metals, TSX, Samuel, Limited

Russel will acquire Samuel's metals service centers in Winnipeg (Manitoba), Calgary (Alberta), Nisku (Alberta), Langley (BC), Surrey (BC), Buffalo (New York) and Pittsburgh (Pennsylvania).

Key Points: 
  • Russel will acquire Samuel's metals service centers in Winnipeg (Manitoba), Calgary (Alberta), Nisku (Alberta), Langley (BC), Surrey (BC), Buffalo (New York) and Pittsburgh (Pennsylvania).
  • Samuel will retain its location in Delta (BC) and conduct an orderly shut-down of that facility.
  • For the year ended December 31, 2022, the seven service centers that are part of the transaction generated revenues and adjusted EBITDA1 of $704 million and $33 million, respectively.
  • For the nine months ended September 30, 2023, the business generated revenues and adjusted EBITDA1 of $457 million and $19 million, respectively.

Grand Opening of Elite Supply Partners New Location - Karnes City

Retrieved on: 
Tuesday, August 15, 2023
Russel Metals, Metal, Toronto Stock Exchange, Nightclub, Warehouse

KARNES CITY, Texas, Aug. 15, 2023 /PRNewswire/ -- Elite Supply Partners is proud to announce the grand opening of their new facility in Karnes City, Texas.

Key Points: 
  • KARNES CITY, Texas, Aug. 15, 2023 /PRNewswire/ -- Elite Supply Partners is proud to announce the grand opening of their new facility in Karnes City, Texas.
  • "We are thrilled to be opening our new location in Karnes City," said President Chris Wimberley.
  • Karnes City Store Manager, Roy Beaver, says "This location proves our commitment to service the increasing demand in South Texas.
  • Come join us on Thursday, August 24th at 2:00 PM for refreshments and a true Texas BBQ as we celebrate the grand opening of Elite Supply Partners new location in Karnes City!

Russel Metals Announces Acceptance by TSX of Normal Course Issuer Bid

Retrieved on: 
Friday, August 11, 2023
TSX, Growth, Toronto Stock Exchange, Metal, Indian stock exchange, Security (finance), Russel Metals

TORONTO, Aug. 11, 2023 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has received approval from the Toronto Stock Exchange (the "TSX") of its notice of intention to make a normal course issuer bid (the "NCIB").

Key Points: 
  • TORONTO, Aug. 11, 2023 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has received approval from the Toronto Stock Exchange (the "TSX") of its notice of intention to make a normal course issuer bid (the "NCIB").
  • As of August 11, 2023, Russel Metals had 61,307,326 Common Shares issued and outstanding.
  • The NCIB will be funded using Russel Metals' existing cash resources or credit facilities, and any Common Shares repurchased by Russel Metals under the NCIB will be cancelled.
  • Russel Metals may elect to suspend or discontinue share repurchases at any time, in accordance with applicable laws.

RUSSEL METALS TO SELL ITS 50% EQUITY INTEREST IN TRIMARK TO MARUBENI-ITOCHU

Retrieved on: 
Monday, July 31, 2023
MITI, Sale, TSX, Russel Metals, Metal, Security (finance), Lists of Universal Pictures films, Trimark Pictures

TORONTO, July 31, 2023 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has entered into an agreement with Marubeni-Itochu Tubulars America Inc. ("MITI"), whereby Russel Metals will sell its 50% equity interest in TriMark Tubulars Ltd. ("TriMark") for approximately $61 million, subject to normal course closing adjustments.

Key Points: 
  • TORONTO, July 31, 2023 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has entered into an agreement with Marubeni-Itochu Tubulars America Inc. ("MITI"), whereby Russel Metals will sell its 50% equity interest in TriMark Tubulars Ltd. ("TriMark") for approximately $61 million, subject to normal course closing adjustments.
  • TriMark was created in July 2021 when Russel Metals and MITI combined their respective Canadian OCTG/line pipe businesses.
  • At that time, Russel Metals had approximately $141 million of net assets in its Canadian OCTG/line pipe business.
  • With the formation of Trimark, Russel converted approximately $109 million into cash and retained a $32 million equity interest in TriMark.

Russel Metals Announces Acceptance by TSX of normal course issuer bid

Retrieved on: 
Thursday, August 11, 2022
Carbon, Forward-looking statement, Indian stock exchange, Growth, TSX, Donald Duck filmography, Stainless steel, Toronto Stock Exchange, Method, Compliance, Intention, Aluminium, Metal, Security (finance), Risk management, Russel Metals

TORONTO, Aug. 11, 2022 /PRNewswire/ -Russel Metals Inc. (TSX: RUS) announces that it has received approval from the Toronto Stock Exchange (the "TSX") of its notice of intention to make a normal course issuer bid (the "NCIB").

Key Points: 
  • TORONTO, Aug. 11, 2022 /PRNewswire/ -Russel Metals Inc. (TSX: RUS) announces that it has received approval from the Toronto Stock Exchange (the "TSX") of its notice of intention to make a normal course issuer bid (the "NCIB").
  • As of August 11, 2022, Russel Metals had 63,112,220 issued and outstanding Common Shares.
  • The NCIB will be funded using Russel Metals' existing cash resources or credit facilities, and any Common Shares repurchased by Russel Metals under the NCIB will be cancelled.
  • Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value-added processing.

Russel Metals Announces 2022 Annual Meeting Voting Results

Retrieved on: 
Wednesday, May 4, 2022
Deloitte, Company, Russel Metals, Donald Duck filmography, Stainless steel, Carbon, Aluminium, Metal, Extrusion

In addition, the resolution appointing Deloitte LLP as auditors of the Company was approved.

Key Points: 
  • In addition, the resolution appointing Deloitte LLP as auditors of the Company was approved.
  • Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value-added processing.
  • It carries on business in three segments: metals service centers, energy products and steel distributors.
  • Its energy products operations carry a specialized product line focused on the needs of energy industry customers.

Russel Metals Closes Acquisition of Boyd Metals

Retrieved on: 
Wednesday, December 1, 2021
Carbon, CEO, Acquisition, Aluminium, Russel Metals, Boyd, TSX, Donald Duck filmography, Stainless steel, Metal, Extrusion

TORONTO, Dec.1, 2021 /PRNewswire/ -Russel Metals Inc. (TSX: RUS) announces that it has closed its acquisition of a group of companies that operate as Boyd Metals ("Boyd").

Key Points: 
  • TORONTO, Dec.1, 2021 /PRNewswire/ -Russel Metals Inc. (TSX: RUS) announces that it has closed its acquisition of a group of companies that operate as Boyd Metals ("Boyd").
  • Boyd operates five service centers in Fort Smith (Arkansas), Little Rock (Arkansas), Joplin (Missouri), Oklahoma City (Oklahoma) and Tyler (Texas).
  • John Reid, President and CEO of Russel commented, "We are excited to have the Boyd business as part of our operating platform as we welcome Tom Kennon, Brian Newman and all of the Boyd employees to the Russel Metals family."
  • Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value added processing.

Russel Metals and Marubeni-Itochu Complete Merger of Their Canadian OCTG/Line Pipe Businesses

Retrieved on: 
Wednesday, July 7, 2021
Companies, Economy of Japan, Russel Metals, Itochu, Marubeni, Hallmark Cards

TORONTO, July 7, 2021 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has closed the previously announced transaction with Marubeni-Itochu Tubulars America Inc. ("MITI"), whereby Russel Metals and MITI have combined their respective Canadian OCTG/line pipe businesses.

Key Points: 
  • TORONTO, July 7, 2021 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has closed the previously announced transaction with Marubeni-Itochu Tubulars America Inc. ("MITI"), whereby Russel Metals and MITI have combined their respective Canadian OCTG/line pipe businesses.
  • Russel Metals operated its Canadian OCTG/line pipe business through its wholly-owned subsidiary Triumph Tubular & Supply Ltd. ("Triumph"), and MITI operated its Canadian OCTG/line pipe business through its wholly-owned subsidiary Hallmark Tubulars Ltd. ("Hallmark").
  • John Reid, President and CEO of Russel Metals commented, "This transaction is a major component in our strategy to repatriate capital from our OCTG//line pipe business to other value enhancing opportunities.
  • Russel Metals is one of the largest metals distribution companies in North America.

Russel Metals Declares 77th Consecutive Quarterly Common Share Dividend

Retrieved on: 
Tuesday, May 4, 2021
Russel Metals, Commodity markets, Steel, Reliance Steel & Aluminum Co., Metals, Companies, Draft:Leeco Steel

b'TORONTO, May 4, 2021 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has declared a dividend in the amount of CA$0.38 per share on its common shares, payable on June 15, 2021 to shareholders of record at the close of business on May 27, 2021.\nRussel Metals is one of the largest metals distribution companies in North America.

Key Points: 
  • b'TORONTO, May 4, 2021 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has declared a dividend in the amount of CA$0.38 per share on its common shares, payable on June 15, 2021 to shareholders of record at the close of business on May 27, 2021.\nRussel Metals is one of the largest metals distribution companies in North America.
  • It carries on business in three segments: metals service centers, energy products and steel distributors.
  • Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.
  • Its energy products operations carry a specialized product line focused on the needs of energy industry customers.