Russel Metals

Russel Metals Inc.
Type	Public
Traded as	TSX: RUS ; S&P/TSX Composite Component
Industry	Metal Products
Founded	1929
Headquarters	Mississauga, Ontario, Canada
Key people	John Reid (President & CEO); Marion Britton (CFO); Jim Dinning (Chairman);
Website	www.russelmetals.com

Russel Metals Inc. is a Canadian public metals distribution and processing company. It is one of North America's largest metal distribution companies, with operations across Canada and the United States.[1]

History

The company was originally established in 1929 as Federal Grain Limited, through a merger of several grain handling companies.[2] In 1972, it sold its grain assets to several grain pools, and renamed itself Federal Industries. After 1978, under the leadership of CEO John Fraser, the company expanded into a diverse range of industries, including bookstores, trucking, and airplane parts.[3] One of the companies acquired was Hugh Russel & Sons Ltd., originally founded in Winnipeg in 1785 by John Russel as John Russel & Co. The company also acquired the narrow-gauge Yukon and White Pass Railroad which shipped freight between Whitehorse, Yukon Territory and Skagway, Alaska (eventually sold in 1997)

The company's expansion into diverse business lines was not successful, and the company experienced significant losses in a recession in the 1990s.[4] As a result, it sold off many of its non-core assets to focus on metals distributions and processing. As part of this process, the company renamed itself Russel Metals in 1995.[5] After a 1997 proxy battle, involving businessman K. Rai Sahi, John Fraser and CEO John Pelton resigned, and the company narrowed its focus on metals under new CEO Bud Siegal.[4]

In 2007, Russel acquired JMS Metal Products, a US metals distributor, for $125 million.[6] In 2009, the company experienced significant losses as part of the great recession, and laid off 500 of its 3000 employees.[7] In 2012, the company acquired Apex Distribution, a Calgary-based metals distribution business focusing on the oil and gas industry.[8]

Business

Russel Metals primarily operates metal distribution and service centres for customers in the oil and gas, manufacturing, and construction industries.[5] It has three business segments: metals service centres, energy products, and steel distributors. As of 2017, 49% of revenue was from the service centres, 39% was from energy products, and the rest was from steel distribution.[1] It has sites in both Canada and the United States, with most sites located in Canada,[1] and derives roughly 30 per cent of its revenues from the United States.[9]

References and footnotes

"Thursday's TSX breakouts: A stock edging higher that yields 5% and has a unanimous buy call". The Globe and Mail. 2017-11-23. Retrieved 2018-02-17.
Goldsborough, Gordon. "Manitoba Business: Federal Grain Limited". www.mhs.mb.ca. Retrieved 2018-02-16.
"the 10 greatest CEOs of all time". The Globe and Mail. Retrieved 2018-02-16.
"An Acquisitive Mind". The Globe and Mail. 2003-07-25. Retrieved 2018-02-16.
"Russel Metals: Secrets to being a global leader". The Globe and Mail. 2012-09-12. Retrieved 2018-02-16.
"Russel Metals buys U.S. firm for $125M". The Toronto Star. 2007-09-04. ISSN 0319-0781. Retrieved 2018-02-17.
"Russel Metals cuts 500 jobs, reduces executive wages". CTV News Toronto. 2009-02-23. Retrieved 2018-02-16.
"Russel Metals to acquire Apex Distribution". The Globe and Mail. 2012-08-29. Retrieved 2018-02-16.
"'Nothing but positive': This Canadian steel company is giving Trump's tariffs the thumbs up". Financial Post. March 2, 2018. Retrieved March 6, 2018.

gollark: ==8^32

gollark: ++delete befunge

gollark: ++list_deleted

gollark: The interface also isn't particularly *good*, and I suspect ++supported_langs is blocking and may cause issues if we somehow experience high traffic.

gollark: ++exec```pythonprint("No. TIO doesn't have a very good API and I'm just using a random python library from someone who reverse engineered it or whatever. " * 100)```

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[:2-1] "Thursday's TSX breakouts: A stock edging higher that yields 5% and has a unanimous buy call". The Globe and Mail. 2017-11-23. Retrieved 2018-02-17.

[2] Goldsborough, Gordon. "Manitoba Business: Federal Grain Limited". www.mhs.mb.ca. Retrieved 2018-02-16.

[3] "the 10 greatest CEOs of all time". The Globe and Mail. Retrieved 2018-02-16.

[:0-4] "An Acquisitive Mind". The Globe and Mail. 2003-07-25. Retrieved 2018-02-16.

[:1-5] "Russel Metals: Secrets to being a global leader". The Globe and Mail. 2012-09-12. Retrieved 2018-02-16.

[6] "Russel Metals buys U.S. firm for $125M". The Toronto Star. 2007-09-04. ISSN 0319-0781. Retrieved 2018-02-17.

[7] "Russel Metals cuts 500 jobs, reduces executive wages". CTV News Toronto. 2009-02-23. Retrieved 2018-02-16.

[8] "Russel Metals to acquire Apex Distribution". The Globe and Mail. 2012-08-29. Retrieved 2018-02-16.

[fp-9] "'Nothing but positive': This Canadian steel company is giving Trump's tariffs the thumbs up". Financial Post. March 2, 2018. Retrieved March 6, 2018.