PR Newswire: news distribution, targeting and monitoring
2014

Metals USA Acquires Gregor Technologies

Share with Twitter Share with LinkedIn

FORT LAUDERDALE, Fla., March 12, 2012 /PRNewswire/ -- Metals USA Holdings Corp. ("Metals USA") (NYSE: MUSA), a leading provider of processed carbon steel, stainless steel, aluminum and other metals, announced today that it has acquired Gregor Technologies, LLC ("Gregor").  Metals USA expects that the transaction will be immediately accretive to earnings.

Gregor operates from a state-of-the-art 70,000 square foot facility in Torrington, Connecticut. Established in 1989, Gregor provides high-quality custom-crafted parts and assemblies and tailored solutions to OEM customers in several attractive end markets.  These markets include industrial equipment manufacturing, scientific instruments, electronics, aerospace, homeland security and defense.  

Lourenco Goncalves, Chairman, President, and C.E.O. of Metals USA, stated: "We are very pleased to complete the acquisition of Gregor Technologies.  Gregor's strong margin performance through the cycle, emphasis on specialized value-added processing, and commitment to customers are all attributes we seek in an acquisition.  In an environment where more and more customers are outsourcing low volume, high cost metal processing, we believe Gregor is a solid addition to the Metals USA platform."

Mr. Goncalves continued: "Gregor represents a continuation of the M&A growth strategy we articulated in our IPO and have consistently executed since then.  We will continue to seek high quality acquisitions, like Gregor, that average-up Metals USA's EBITDA margin." 

About Metals USA

Metals USA provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, non-ferrous metals, and building products markets.  For more information, visit the Company's website at www.metalsusa.com.  The information contained in this release is limited and the Company encourages interested parties to read the Company's historical Form 10-Ks and Form 10-Qs which are on file with the Securities and Exchange Commission for more complete historical information about the Company.  Additionally, copies of the Company's filings with the Securities and Exchange Commission, together with press releases and other information investors may find of interest, can be found at the Company's website at www.metalsusa.com under "Investor Relations."

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of the federal securities law which involve known and unknown risks, uncertainties or other factors not under the Company's control which may cause the actual results, performance or achievement of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements.  Such statements include, but are not limited to, statements concerning the future performance of the Company and the acquired business, the integration of the acquired business into the Company's operations, anticipated synergies, the Company's financial performance, and the Company's future acquisitions and execution of its growth strategy.  Factors that could cause the Company's results to differ materially from actual results or current expectations include, but are not limited to, unanticipated liabilities associated with the acquired business; the loss of key customers of the acquired business; changes in metal prices; the effect of economic conditions generally in the regions in which the acquired business operates, in the United States and international economies and within major product markets, including a prolonged or substantial economic downturn; the effect of consolidation or other actions of our suppliers or suppliers of the acquired business, or other disruptions in our sources of supply; increased competition and the other factors detailed in the Company's Annual Report on Form 10-K under the caption "Risk Factors" and other reports filed with the Securities and Exchange Commission.  In addition, these statements are based on a number of assumptions that are subject to change.  This press release speaks only as of this date and the Company disclaims any duty to update the information herein.

 

SOURCE Metals USA Holdings Corp.



RELATED LINKS
http://www.metalsusa.com

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 
Area to test

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release