10:28 AM EDT, 04/03/2024 (MT Newswires) -- Reliance (RS) said Wednesday that it has acquired all of the outstanding equity interests and related real estate assets of American Alloy Steel, effective Monday.

American Alloy's team, including management, will remain intact, the company added.

Reliance said that the deal will boost its processing capabilities and product portfolio.

The transaction's terms were not disclosed, the company added.

The shares of the company were up more than 1% in recent trading.

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