Mr. Hannah continued, “In February 2013, we announced our agreement to acquire Metals USA for approximately $1.2 billion in an all cash transaction. Metals USA will be our largest acquisition to date and nicely complements Reliance’s existing customer base, product mix and geographic footprint. We expect to close the transaction in the 2013 second quarter and it is expected to be immediately accretive upon closing. Metals USA has demonstrated consistent performance with solid returns and we believe that the combined company will be well positioned to continue to outperform the broader metals service center industry.”

 

Fourth Quarter 2012 Business Metrics
(tons in thousands)
      Sequential    
Q4 Q3 Quarter Q4 Year-Over-Year
    2012   2012   Change   2011   change
Tons sold     1,014.5     1,105.9   (8.3 %)     1,055.7   (3.9 %)
Tons sold (same store)     972.7     1,073.0   (9.3 %)     1,024.6   (5.1 %)
                     
Avg. price per ton sold   $ 1,847   $ 1,848   (0.1 %)   $ 1,927   (4.2 %)
 
 

Fourth Quarter 2012 Major Commodity Metrics
    Average Selling Price per Ton
    Tons Sold (tons in thousands; percent change) Sold (percent change)
    Sequential     Year-Over- Sequential  
Q4 2012 Q3 2012 Quarter Q4 2011 Year Quarter Year-Over- Year
    Tons Sold   Tons Sold   Change   Tons Sold   Change Change   Change
Carbon steel   800.1   887.1   (9.8 %)   844.4   (5.2 %) (1.7 %)   (7.5 %)
Aluminum   57.1   59.4   (3.9 %)   54.8   4.2 % 1.6 %   (2.3 %)
Stainless steel   55.6   58.6   (5.1 %)   52.3   6.3 % (3.8 %)   (8.0 %)
Alloy   71.6   73.8   (3.0 %)   78.7   (9.0 %) 0.3 %   0.1 %
 
     
    Sales ($ in millions; percent change)
      Sequential    
Quarter Year-Over-
    Q4 2012 Sales   Q3 2012 Sales   Change   Q4 2011 Sales   Year Change
Carbon steel   $ 948.0   $ 1,069.5   (11.4 %)   $ 1,081.1   (12.3 %)
Aluminum   $ 315.8   $ 323.3   (2.3 %)   $ 310.0   1.9 %
Stainless steel   $ 281.9   $ 308.9   (8.7 %)   $ 288.4   (2.3 %)
Alloy   $ 225.6   $ 231.8   (2.7 %)   $ 248.0   (9.0 %)
 

 

Full-Year 2012 Business Metrics
(tons in thousands)
      Year-
Over-Year
    2012   2011   change
Tons sold     4,440.3     4,213.5   5.4 %
Tons sold (same store)     4,299.1     4,157.0   3.4 %
             
Avg. price per ton sold   $ 1,894   $ 1,930   (1.9 %)
 
 

Full-Year 2012 Major Commodity Metrics
    Average Selling Price per
    Tons Sold (tons in thousands; percent change) Ton Sold (percent change)

2012 Tons
 

2011 Tons
  Year-Over- Year-Over-Year
   

Sold
 

Sold
  Year Change Change
Carbon steel   3,545.7   3,423.9   3.6 % (3.7 %)
Aluminum   241.5   228.1   5.9 % (2.1 %)
Stainless steel   234.1   207.0   13.1 % (7.2 %)
Alloy   310.2   268.9   15.4 % 4.1 %
 
     
    Sales ($ in millions; percent change)
      Year-Over-
    2012 Sales   2011 Sales   Year Change
Carbon steel   $ 4,390.7   $ 4,403.6   (0.3 %)
Aluminum   $ 1,340.6   $ 1,293.4   3.6 %
Stainless steel   $ 1,241.3   $ 1,183.4   4.9 %
Alloy   $ 988.1   $ 822.6   20.1 %
 

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