Russel Metals Inc.

Russel Metals Inc.

June 28, 2011 16:12 ET

Russel Metals Amends Its Credit Agreement

TORONTO, ONTARIO--(Marketwire - June 28, 2011) - Russel Metals Inc. (TSX:RUS) today announced that it has extended its current $252.5 million credit facility with the existing syndicate of Canadian and US banks.

Marion E. Britton, Vice President and Chief Financial Officer of the Company stated "The extension of our credit facility to June 24, 2014 includes a reduced fee structure and provides certainty in our financing for the next three years. This facility, combined with our cash availability, provides the Company with financial flexibility for acquisitions, capital expenditures and organic growth over the next three years."

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.

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