Reliance Steel Makes Singapore Acquisition

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Reliance Steel & Aluminum Co. said Wednesday that it had further expanded its presence in Asia by acquiring the assets of HLN Metal Centre Pte. Ltd. for about $2.6 million.

Singapore-based HLN Metal processes and distributes custom-machined materials and saws metal products and components, said Los Angeles-based Reliance.

The business now will operate as Reliance Metalcenter Asia Pacific Pte. Ltd. and focus primarily on supplying the electronics, semiconductor, and solar energy markets.

Reliance shares were down $4.60, or 9.5 percent, in morning trading on the New York Stock Exchange.

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