Metals USA Announces Supply Agreement With Lakeside Steel
FORT LAUDERDALE, Fla., June 14, 2011 /PRNewswire/ -- Metals USA Holdings Corp. (NYSE: MUSA) today reported that it has, through its wholly owned subsidiary Metals USA, Inc., entered into a four year agreement with Lakeside Steel, Inc. ("Lakeside") to provide steel slitting and warehousing services in support of Lakeside's new steel pipe and casing mill in Thomasville, Alabama. Pursuant to the agreement, Metals USA will construct a rail serviced, state of the art slitting and warehousing facility adjacent to Lakeside's pipe mill in Thomasville, Alabama. The adjacent facilities will promote efficiencies for both parties.
Lourenco Goncalves, the Company's Chairman, President and C.E.O., stated: "Lakeside is a respected manufacturer of pipe and tube products for oil country tubular goods and we are pleased to partner with them in this mutually beneficial venture in Thomasville, Alabama." Mr. Goncalves added: "The addition of a new Metals USA service center in Alabama represents another aspect of our growth strategy. In addition to making accretive acquisitions, we continue to grow organically and act on opportunities that deliver value for our stockholders."
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 Company's plans, future operation and performance of the new service center; pricing trends for metal or other raw materials and finished goods and the impact of pricing changes; anticipated capital expenditures; anticipated improvements and efficiencies in costs, operations, sales, inventory management, sourcing and the supply chain; projected timing, results, benefits, costs, charges and expenditures related to acquisitions or divestitures; the ability to operate profitably and generate cash in the current economic environment, the ability to capture and maintain margins and market share and to develop or take advantage of future opportunities, new products, services and markets; expectations for Company and customer inventories and customer orders; expectations for the economy and markets or improvements therein; expectations for improving earnings, margins or shareholder value; the Company's future acquisitions and execution of its growth strategy; and other non-historical matters. Factors that could cause the Company's results to differ materially from actual results or current expectations include, but are not limited to, delays in completion and commencement of operation of the new service center, changes in metal prices, the effect of economic conditions generally 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; 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 only and the Company disclaims any duty to update the information herein.
SOURCE Metals USA Holdings Corp.