Joint Venture

9 Months Ended

Sep. 30, 2012

Joint Venture [Abstract]

Joint Venture

(12) Joint Venture

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 September 30, 2012 and 2011:

	September 30,
	2012		2011
Net sales	$	63,578	$	71,776
Cost of materials		52,705		57,743
Income before taxes		4,129		7,382
Net income		2,716		6,234

The following information summarizes financial data for this joint venture for the nine months ended September 30, 2012 and 2011:

	September 30,
	2012		2011
Net sales	$	208,045	$	202,455
Cost of materials		172,370		163,453
Income before taxes		15,663		20,892
Net income		12,198		17,916