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History of Reliance
Originally, Reliance’s business consisted of the fabrication
of steel-reinforcing bar. Beginning in the 1950s and continuing
over the next few decades, Reliance expanded its operations,
acquired several companies in the metals industry, and eventually
became a “metal service center”.
As of the valuation date, Reliance had a network of 23
divisions and 12 subsidiaries, 72 processing and distribution
facilities in 21 States and France, approximately 4,000
employees, and Reliance had become the fifth largest metals
service center company in the United States.
As a metal service center, Reliance acquires and processes
to customer specifications various types of raw metals and metal
products. Reliance distributes more than 75,000 metal products
to approximately 65,000 customers in a broad range of industries,
including general manufacturing, construction, transportation,
aerospace, and semiconductor fabrication.
In September of 1994 Reliance conducted its initial public
stock offering (IPO). Between its 1994 IPO and the June 5, 2000,
valuation date, Reliance completed 18 company acquisitions and 2
strategic asset purchases.
Shortly after William’s death, decedent’s son, Thomas, was
named a director of Reliance.
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Last modified: May 25, 2011