Reliance Steel & Aluminum Co history

In 1944, the company name is changed to Reliance Steel Co.

In 1947, Thomas Neilan offers to fund his nephew's graduate studies at Harvard if he will work at Reliance for a year.

In 1948, Reliance Steel also began manufacturing products of aluminum and magnesium.

With the purchase, Reliance also acquired the services of Joe D. Crider, who had joined Drake in 1949 as a billing clerk and worked his way up to Fresno sales manager.

Reliance makes its first acquisition in 1952: Carthage Steel Strip, in South Gate, California.

In 1956, the company is renamed for a second time to reflect its expanding product lines, assuming the name it holds today: Reliance Steel & Aluminum Co.

After moving from Warehouseman to Manager to Vice President, William Gimbel succeeds as President upon the death of his uncle, Reliance founder Thomas Neilan, in 1957.

Under Gimbel, Reliance began its long-running territorial expansion, naming a resident sales agent in Phoenix in 1958.

1960: Phoenix competitor Effron Steel is acquired.

1961: Norther California's Westates Steel is acquired.

In 1962, Bill Gimbel commissions the manufacture and installation of a semi-automatic rack storage system to house metal sheet and coil in unused vertical warehouse space.

1963: Drake Steel Supply of Fresno and San Diego are acquired.

1966: Texas metals service centers are bought from Delta Metals, Inc.

Founded in 1971, it had sales of $18 million a year.

Reliance ventured into the eastern part of the United States for the first time in 1975 when it acquired the Purchased Steel Products Conmpany, in Atlanta.

1976: The company's first "specialty store" is set up in Santa Fe Springs, California, through its Tuber Service Company subsidiary.

Bralco Metals in Pico Rivera, California is acquired in 1977.

1980: SupraCote coil-coating subsidiary is sold to management; tube distributor Foucar, Ray & Simon is acquired.

In 1981, Reliance purchased the Cd'A Service Center in Salt Lake City, Utah, from Spokane-based Cd'A Steel Service Center.

MacKey, William, "Flatrolled Vendor to the High-Tech Market," Metal Center News , December 1984.

When Valex is added to the family roster in 1986, Reliance gains entry to the semiconductor industry.

The move never panned out, however, and Reliance sold the center in 1987.

By 1988, the company's 50th year, sales topped $350 million.

By 1989, Reliance's 50th anniversary, sales top $350M, and the company remains poised for continued growth.

In an interview with an industry publication in 1992, Joe D. Crider, then president and chief operating officer, explained, "You can pay the bill [for higher market share] through price cutting, or through paying goodwill to buy a competitor.

On September 14, 1994, the company became a public company via an initial public offering.

In 1995, Dave Hannah is promoted to President and Gregg to Chief Operating Officer.

1996: Reliance enters the Southeast with the purchase of Tennessee-based Siskin Steel & Supply Company for $71 million.

Reliance continued to invest in the aerospace business, acquiring Service Steel Aerospace Corp. of Tacoma, Washington, in October 1997.

Reliance bought Phoenix Metals of Atlanta for $21 million in January 1998.

Inc., a Rockford, Illinois, supplier of carbon steel products, was acquired in March 1999.

Reliance bought United Alloys Inc.'s aerospace division in August 2000.

Viking Materials Inc., a Minneapolis-based processor and distributor of flat-rolled carbon steel products, was bought in early 2001.

Reliance acquired assets of Central Plains Steel Company in April 2002.

A leading press release service provider since 2004.

In 2005, Reliance is named “Acquirer of Choice” by MSCI's Forward magazine.

In 2006, Reliance acquires its longtime and well respected competitor, Earle M. Jorgensen Company.

In August 2008, Reliance acquires the PNA Group of 23 service centers and seven joint ventures.

Reliance executive officers ring the closing bell at the NYSE in 2009 to mark the 15th anniversary of the company's IPO.

In 2018, Reliance also achieved record net sales of $11.8 billion, record pre-tax income of $850.6 million, a record annual gross profit of $3.3 billion, and record non-GAAP EPA of $8.94.

In 2019, Reliance commemorated its 80th anniversary and celebrated 25 years on the New York Stock Exchange.