XML 31 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 12 - Subsequent Events
3 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
Subsequent Events [Text Block]
12.
Subsequent Event
:
 
On
April 2, 2018,
the Company acquired all of the net assets of Berlin Metals, LLC, based in Hammond, Indiana. Berlin Metals was founded in
1967
and is
one
of the largest North American service centers processing and distributing prime tin mill products and stainless steel strip in slit coil form. Berlin Metals is also a supplier of galvanized, light gauge cold rolled sheet and strip and other coated metals in coil forms, to customers in the building products, automotive and specialized industrial markets.
 
The acquisition will be accounted for as a business combination and the assets valued at fair market value. The acquisition is
not
considered significant and Berlin Metals’ results will be included in the Company’s specialty metals flat products segment in the Company’s
second
quarter of
2018
financial results. The acquisition is expected to be accretive to
2018
earnings. Upon the acquisition, the Company entered into an amendment to include the eligible assets of Berlin Metals in its ABL Credit Facility.