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FORM 8-K
CURRENT REPORT
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Date of Report (Date of earliest event reported): July 1, 1998
RELIANCE STEEL & ALUMINUM CO.
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(Exact name of registrant as specified in its charter)
California 001-13122 95-1142616
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
2550 East 25th Street
Los Angeles, California 90058
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(Address of principal executive offices)
(213) 582-2272
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(Telephone number)
N/A
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
Effective July 1, 1998, the Registrant acquired all of the outstanding
capital stock of Chatham Steel Corporation, a Georgia corporation, ("Chatham").
Chatham is a metals service center company, with facilities in Savannah,
Georgia; Columbia, South Carolina; Durham, North Carolina; Orlando, Florida;
Jacksonville, Florida and Birmingham, Alabama. Revenues of Chatham for the
fiscal year ended December 31, 1997 were approximately $166 million. The
Registrant paid $68 million in cash, a portion of which will be retained in
escrow, and repaid outstanding debt of Chatham in the amount of approximately
$30.2 million. To pay the purchase price, the Registrant drew down on its
syndicated revolving line of credit with five banks of which Bank of America
N.T. & S.A. is the lead lender.
The purchase price was determined by negotiation with the sellers. The
Registrant intends to operate Chatham as a wholly owned subsidiary of the
Registrant. Chatham will continue to engage in the metals service center
business at the same locations as prior to the acquisition.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Businesses Acquired. No financial
statements are required to be filed under applicable rules.
(b) Pro Forma Financial Information. No pro forma financial
information is required under applicable rules.
(c) Exhibits.
2.1 Stock Purchase Agreement dated June 4, 1998 among the
stockholders of Chatham Steel Corporation and the
Registrant
20.1 Press release dated June 24, 1998
20.2 Press release dated July 7, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned hereunto duly authorized.
RELIANCE STEEL & ALUMINUM CO.
Dated: July 8, 1998 By:/s/ Steven S. Weis
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Steven S. Weis
Chief Financial Officer
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EXHIBIT INDEX
2.1 Stock Purchase Agreement dated June 4, 1998 among the stockholders of
Chatham Steel Corporation and the Registrant
20.1 Press release dated June 24, 1998
20.2 Press release dated July 7, 1998
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