Moving Metal

Cold rolled coil and sheet at Delta Steel, Inc., which became part of the Reliance family with the August 2008 PNA acquisition.

assured the industry that Hannah was “essential to the future success of Reliance and will continue to guide the Compa- ny’s outstanding management team going forward.” He later privately commented, “Dave knows the business probably better than I’ll ever know it. He does a good job.” Hannah was equally magnanimous, avowing that “We recognize the wisdom, guidance, and accomplishments that Joe has con- tributed to Reliance throughout his stellar career and we also appreciate his dedication to the Company’s growth and success.” Crider remained a Director until his term expired the following May. RECORD ACQUISITION, RECORD RECESSION While making these management transitions at home, Reliance continued to track the global electronics industry

earlier in a management buyout. It specialized in aluminum and aluminum alloys of all types in plate, bar, sheet, and extruded shapes. Metalweb was financially strong, having netted $53 million the previous fiscal year. It also had a strong management team, said Hannah, and was “eager to continue to grow both within the U.K. and beyond.” The acquisition better positioned Reliance to take on competitors in Belgium, France, and Germany. The company said good-bye to one of its most respected officers on October 19, 2007, when, after almost forty-five years with the company, Joe Crider announced his retire- ment as Chairman of the Board of Directors. Bill Rumer had retired from the Board in 2004 and Bob Henigson the next year, so Crider was the last of the “old guard” from the 1960s. Dave Hannah was elected to succeed Crider. Publicly, Crider

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