Boyd Metals signs deal with Canadian company

A 30-year-old Fort Smith metals service company, which has a warehouse and sales office at the Port of Little Rock among its five locations, has entered into a deal to acquire a Canadian company for $ 110 million.

The sale of Boyd Metals to Russell Metals Inc. of Toronto is expected to close before the end of the year, according to a press release.

Boyd was founded by Chester Koprovic, Tom Kennon and Ron Tabor in 1991 as a full steel service center, offering “an extensive inventory of carbon steel, aluminum and fiberglass products,” according to the website. of the society.

Boyd Metals also has branches in Tyler, Texas; Joplin, Mo., and Oklahoma City, in addition to its Fort Smith and Little Rock locations.

The Russell Metals senior executive said in the statement that Boyd’s locations and more than 250 employees will remain after the sale closes.

“We believe their culture, experienced leadership team and business platforms are perfectly aligned with our existing business as we seek to further expand our service center footprint in the United States,” said John Reid, President and CEO. “We look forward to having all of Boyd’s employees in the Russel family.”

– Christmas Oman

2 people appointed to supervise the Ford site

NASHVILLE, Tennessee – Tennessee Governor Bill Lee has selected two people for a new government panel overseeing the site where Ford plans to establish a large complex of electric vehicles and batteries.

The Republican’s Office said Tipton County Mayor Jeff Huffman and First Horizon National executive vice president and general counsel Charlie Tuggle would sit on the Megasite Authority of West Tennessee.

Lee had previously announced that his transport commissioner, Clay Bright, would be the authority’s chief executive.

Under the legislation Lee signed this week, the 11-member board also includes the governor, two individuals appointed individually by the Speakers of the House and Senate, a joint appointment by the presidents and development commissioners. economy, finance and general services.

In September, Ford Motor Co. and South Korean battery maker SK Innovation revealed plans to build a $ 5.6 billion campus to build F-Series electric pickup trucks about 80 km east of Memphis, near Stanton, in rural Haywood County.

– The Associated Press

America’s Car-Mart, Dillard Shares Rise

The Arkansas Index, a price-weighted index that tracks the state’s largest public companies, closed Friday at 808.10, up 10.89.

Dillard’s Inc. shares rose 5.7%. US stocks of Car-Mart rose 4.4%.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of December 30, 1997.