U.S. based metal processing centers operator Reliance Steel & Aluminum Co. said yesterday that its net income of the second quarter was US$81 million, down by 27% from the same period of fiscal year 2012.
The company attributes the net income falling to the weakened market demand and prices in the period, even though its sales of the period had risen by 11% to US$2.45 billion.
Reliance Steel had completed its largest acquisition to date, Metals USA Holdings Corp. in the second quarter.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65550&division=A6
