Russel Metals Inc.

Russel Metals Inc. is the successor corporation to Federal Industries Ltd. (formerly known as Federal Grain Limited).  We are a publically traded Canadian company, with our common shares listed on The Toronto Stock Exchange under the trading symbol,In 1784 John Russel immigrated to Montreal (QC), Canada from Scotland, where he set up a merchant business known as John Russel & Co.   In 1866 the majority of the metal industry needs were sourced from overseas, as such John Russel's great nephew, Hugh Russel, set up a one man iron trading operation in Montreal (QC). In 1916, the business was incorporated as Hugh Russel & Sons Ltd. and introduced the steel warehousing concept, which today we call 'a metal service center'.  Between the years of 1941 and 1947, Hugh Russel & Sons opened offices in Winnipeg (MB), Vancouver (BC), Saint John (NB), Windsor and Toronto (ON).  From 1965 through 1968 Hugh Russel & Sons made various acquisitions, establishing a steel distribution network through to the west coast of Canada. In 1977 Hugh Russel & Sons changed its name to Russelsteel Ltd. In 1979 Russelsteel acquired its first U.S. metal service center.  Russelsteel was sold to Federal Industries Ltd. in 1984. Federal Industries was incorporated in Canada in 1929 and was involved in terminal and grain elevator operations. Throughout the 1980's  Federal Industries expanded its operations through acquisitions and became a conglomerate owning metals distribution operations, transportation businesses, retail operations and industrial manufacturing businesses.  In 1987 Federal Industries acquired Russel Metals' then largest competitor, Drummond McCall.  Drummond McCall similarly was started in 1881 by two partners, George Drummond and James McCall, in Montreal (QC), Canada. During the succeeding 100 years Drummond McCall opened operations in nine provinces, the Yukon and the Northeastern United States.  By 1988 Federal Industries had become the largest steel distributor in Canada. In the 1990's a decision was made to focus on the metals distribution business and on June 1, 1995 Federal Industries changed its name to Russel Metals Inc.