November 23, 2004
Ryerson Tull, Chicago, has announced the signing of an agreement to purchase Integris Metals Inc., one of North America's largest metals service centers, from Alcoa Inc. and BHP Billiton.
Ryerson Tull will purchase all of the equity interest in Integris for $410 million and take on the company's debt, which was approximately $250 million as of Oct. 1, 2004. The transaction is expected to be completed by early 2005 and is subject to customary closing conditions and regulatory approval.
Ryerson Tull is a distributor and processor of metals, with 2003 revenues of $2.2 billion. The company services customers through a network of service centers across the U.S. and in Canada, Mexico, and India.