FRD - Friedman Industries expands With major acquisition of Plateplus operations

Friedman Industries (NYSE:FRD) has acquired two high-quality, strategically located facilities from Plateplus, positioning Friedman as a leading North American steel service center with an expanded geographic presence, scale and processing capabilities. In addition to the facilities acquired, Friedman also purchased the steel inventory and customer relationships at two additional Plateplus locations. Parties executed the transaction on April 26, 2022 and closed the transaction effective at the end of business on April 30, 2022. "This transaction and the processing capabilities it provides significantly enhance the strategic value of these recent investments. We are transforming our company with leading technologies and a broader geographic reach that will allow us to serve more customers with a larger portfolio of leading products. It catapults Friedman to a new level of providing quality, reliability and best-in-market product capability so we can more effectively service customers across North America.” said Mike Taylor, CEO.

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Friedman Industries expands With major acquisition of Plateplus operations