RUSSEL METALS CLOSES SALE OF ITS 50% EQUITY INTEREST IN TRIMARK

TORONTO, Sept. 5, 2023 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announces that it has closed the previously announced transaction with Marubeni-Itochu Tubulars America Inc. ("MITI"), whereby Russel has sold its 50% equity interest in TriMark Tubulars Ltd. to MITI.

Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing.  It carries on business in three segments: metals service centers, energy field stores and steel distributors.  Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals.  Its energy field stores carry a specialized product line focused on the needs of energy industry customers.  Its steel distributors operations act as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an "as is" basis.

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SOURCE Russel Metals Inc.