CHICAGO, Jan. 5, 2015 /PRNewswire/ -- Ryerson Holding
Corporation (NYSE: RYI), a leading processor and distributor of
metals, announced today that it acquired Fay Industries, Inc., a
privately-owned metals service center company located in
Strongsville, Ohio. The
acquisition further strengthens Ryerson's long products and saw
cutting processing capabilities, and its ability to serve
industries including heavy equipment, mining, oil and gas, and
industrial maintenance and repair.
Fay Industries employs around 65 employees in one location and
has annual revenue of approximately $30
million.
"Fay Industries brings extensive experience in bar and tube
processing to Ryerson and advances our strategic focus on
value-added customer services," said Mike
Arnold, Ryerson's president and chief executive officer.
The acquisition of Fay Industries is part of Ryerson's broader
strategy to expand its long and plate product offerings, processing
services and geographic reach.
"We continue to look for acquisitions like Fay Industries that
foster business growth," added Arnold.
"We are thrilled to join Ryerson," said Craig Notarianni, vice president of Fay
Industries. "As part of Ryerson, Fay Industries will be able to
offer our loyal customers the benefits of a global networked
service company with a broad product line and value-added services
portfolio. We are also excited for our loyal employees to realize
the support and benefits of being part of the Ryerson family."
About Ryerson
Ryerson is a processor and distributor of metals with operations
in the United States, Mexico, Canada, China
and Brazil. The company serves
end-markets including oil and gas, industrial equipment,
transportation equipment, heavy equipment and electrical machinery.
Founded in 1842, Ryerson is headquartered in the United States and employs approximately
4,000 employees in more than 100 locations. Visit Ryerson at
www.ryerson.com.
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SOURCE Ryerson Holding Corporation