Brian R. Hedges, President and CEO, stated “Our British Columbia operations were significantly impacted by the slowdown in the forestry industry prior to 2008 and further impacted by the economic downturn in 2008. We do not expect to return to previous volumes at a number of our operations and we need to make many changes throughout our British Columbia region. A strike call by the union would cause hardship for all of our employees and their families, as well as create uncertainty in our customer base and, as such, is not our preferred solution. The decision to put out an announcement by the union of a strike mandate is being taken seriously by management. We will take all avenues open to us to allow us to provide continued service to our customers.”
Marion E. Britton, Vice President and CFO, stated “A strike at these operations would not materially impact our fourth quarter results.”
Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three 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, Megantic Metal, Metaux Russel, Metaux Russel Produits Specialises, 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.