Press release from Marketwire
Russel Metals Announces Increased Focus on OCTG Product in the U.S.
Monday, January 17, 2011
Russel Metals Announces Increased Focus on OCTG Product in the U.S.07:48 EST Monday, January 17, 2011TORONTO, ONTARIO--(Marketwire - Jan. 17, 2011) - Russel Metals Inc. (TSX:RUS) today announced the appointment of Dean Rougas as the new President of the Company's Spartan Steel Products division. Dean brings considerable expertise in the Oil Country Tubular Goods ("OCTG") area to Spartan. Dean will be located in Houston, Texas and report to Mike Harris, the President of Pioneer Pipe. Dean will be supported by Spartan's team located in Evergreen, Colorado.Brian Hedges President and CEO commented "The growing opportunities in OCTG product, fueled by increased drilling activities and improved economics of the shale oil and gas fields, is one of our areas of focus. The addition of Dean to our team allows us to grow organically and increase our investment in this dynamic growth opportunity. The North American supply of OCTG products has stabilized following the wave of consolidations in 2007 and 2008, which impacted the distribution channel. We feel this is the right time to increase our presence in the U.S. through our Spartan Energy Tubulars operations. I am very pleased that we have been able to attract a veteran industry executive like Dean to quarterback this area."Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy tubular products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier Richler, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Spartan Steel Products, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.FOR FURTHER INFORMATION PLEASE CONTACT: Marion E. Britton, C.A.Russel Metals Inc.Vice President and Chief Financial Officer(905) firstname.lastname@example.org