Reliance Steel & Aluminum Company announced that, effective August 1st 2014, it has acquired all of the capital stock of Aluminium Services UK Limited, the holding company parent of All Metal Services, the world's largest independent raw material service provider to the aerospace and defense industries.
Established in 1974, AMS provides comprehensive materials management solutions to leading aerospace and defense OEMs and their subcontractors on a global basis, supporting customers in more than 40 countries worldwide. AMS offers a broad range of aerospace metals including aluminum, steel, titanium, nickel alloys and aluminum bronze, offering full or cut to size materials. AMS also offers in house machining and water-jet cutting for more complex requirements.
AMS has five locations in the United Kingdom (London, Belfast, Birmingham, Bolton and Bristol), along with locations in France, Malaysia and China as well as a sales office in India. Net sales for AMS were approximately GBP 174.9 million for the twelve months ended December 31st 2013. AMS will operate as a wholly owned subsidiary of Reliance Steel & Aluminum Co., through UK holding companies. Current management will remain in place. Additional transaction terms were not disclosed.
Mr David H Hannah chairman and CEO of Reliance said that "We are excited to expand our aerospace presence in this growing market. This acquisition is especially attractive given the current and anticipated growth of the global aerospace industry. AMS is a well established and trusted supplier to the aerospace and defense markets and we look forward to continuing to support their existing global customer base while maximizing opportunities for growth."
(Source - www.steelguru.com)