Energy Alloys to Acquire Oilfield Distribution Assets of Ryerson

Energy Alloys has signed a definitive agreement to purchase the U.S. oilfield distribution assets of Ryerson Inc., a leading distributor and processor of metals. This transaction, expected to be completed by the end of the first quarter, will further Energy Alloys' mission of delivering superior customer service and expanding global reach in sourcing, stocking and supply for the oilfield equipment manufacturing industry.

"Our commitment of offering customers and suppliers an advantage in oilfield metals, service and solutions stands firm," said Dave Warren, president of Energy Alloys. "The acquisition of the Ryerson oilfield distribution assets strengthens our ability to provide our customers an expanded product range and tailored inventories that will better serve their growing global needs."

After the completion of the acquisition, Energy Alloys will be positioned as the market leader in the global oilfield metals supply and services sector, building upon the global foundation established with the acquisition of IMS U.K. last year. The combination of the two companies' complementary product portfolios and services will offer increased product depth and range, as well as enhance Energy Alloys' focus and presence in the energy services market.

In addition to the employee resources and expanded product lines and inventory, Energy Alloys will gain distribution facilities in Houston, Texas; Lafayette, Louisiana; and Tulsa, Oklahoma. The distribution locations acquired had revenues of approximately $80 million in 2005 and offers complementary product lines and supply chains, bringing together a wealth of expertise in materials supply, management and distribution.

"We will work to ensure this transition will be as seamless as possible for all customers, suppliers and valued partners," Warren said. "In addition, we will extend the opportunity for employment to all Ryerson employees in the acquired locations. We value their expertise and believe they will complement and strengthen our existing Energy Alloys team. Additionally, they share our mission for superior customer service and have an outstanding reputation for exceeding customer expectations."

Energy Alloys is a privately held Houston-based company that provides oilfield metals, services and solutions to the global oil and gas industry. Founded in 1995, the company has operations in Houston, Texas; Lafayette, Louisiana; Alberta, Canada; Dubai, U.A.E. and the United Kingdom.