Russel Metals sells energy operation

Russel Metals has sold Total Distributors Supply Corporation, its Tulsa-based energy sector operation specialising in the distribution of heat exchanger tubing products, to a private investor for CAD 9.6 million. As a result of this transaction, Russel Metals will record a loss of approximately CAD 4.0 million after tax. The heat exchanger tubing market has been very competitive and Russel Metals has experienced significant losses in this operation.

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