Reliance Steel to acquire Continental Alloys

New York : Metals processor Reliance Steel & Aluminum Co said on Thursday it had agreed to acquire Continental Alloys & Services Inc. Terms were not made public, but the transaction is expected to close within 30 days, Reliance said.

Houston-based Continental specializes in high-end steel and alloy pipe, tube and bar products and precision tool manufacturing for the oil and gas industry. It has locations in seven countries -- the United States, Canada, Britain, Singapore, Malaysia, Dubai and Mexico.