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Joint Venture

3 Months Ended

Mar. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Kreher Steel Co., LLC is a 50% owned joint venture of the Company. It is a metals distributor of bulk quantities of alloy, special bar quality and stainless steel bars, headquartered in Melrose Park, Illinois.

The following information summarizes financial data for this joint venture for the three months ended March 31, 2013 and 2012:



	March 31,
	2013		2012
Net sales	$	57,329	$	76,805
Cost of materials	48,219		63,398
Income before taxes	3,356		7,101
Net income	2,938		6,016

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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