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LOS ANGELES, Sept. 08, 2017 -- Reliance Steel & Aluminum Co. (NYSE:RS) provided an update today on its operations located in the areas directly impacted by Hurricane Harvey. Reliance currently operates thirteen locations throughout this area, whose total sales represented approximately 4% of Reliance’s consolidated net sales in the first half of fiscal 2017. Due to the severe weather conditions, many of these facilities were closed and unable to ship for most of last week, however, no material damage to the facilities, equipment or inventory occurred. As of September 5, 2017, all facilities have been reopened and are operational.
“We are happy to report that all of our employees and their families are safe, however, many have suffered losses and our thoughts and prayers are with them as they recover,” said Gregg Mollins, President and Chief Executive Officer of Reliance. “We are in a solid position to support our customers as they ramp up their businesses, but it is still too early to understand the storm’s full impact on our customers’ operations and the time it will take to return to normalized shipping levels in these areas. Due to this uncertainty, we are unable to quantify any impact on our third quarter 2017 results at this time.”
Mr. Mollins continued, “The safety of our employees remains our top priority. Our thoughts are with our employees, customers and others in the Florida region as they prepare for Hurricane Irma.”
About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and twelve countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries. Reliance focuses on small orders with quick turnaround and increasing levels of value-added processing. In 2016, Reliance’s average order size was $1,560, approximately 47% of orders included value-added processing and approximately 40% of orders were delivered within 24 hours. Reliance Steel & Aluminum Co.’s press releases and additional information are available on the Company’s web site at www.rsac.com.
CONTACT: Brenda Miyamoto Investor Relations (213) 576-2428 [email protected] or Addo Investor Relations (310) 829-5400
