Ryerson Acquires Apogee Steel Fabrication For Undisclosed Sum

Ryerson Holding Corp RYI has acquired substantially all of the assets of Apogee Steel Fabrication Incorporated, a sheet metal fabricator based in Mississauga, Ontario, Canada. Deal terms were not disclosed.
Apogee is a full-line fabrication company providing sheering, punching, forming, and laser-cut processing in addition to welding and hardware assembly services. It has been serving customers in Canada and the U.S. for over 30 years.
"We see Apogee strengthening Ryerson's network of value-added service centers in Canada, adding to our processing capabilities and growing our full-service fabrication business," commented COO Mike Burbach.
Ryerson held cash and equivalents of $52.4 million as of December 31, 2021. The company's available global liquidity was $741 million at year-end.
Price Action: RYI shares are trading higher by 7.49% at $28.14 on the last check Wednesday.