Reliance Secures $2.24B U.S. Government Contracts
Reliance (RS) announced that its wholly-owned subsidiary, AMI Metals, has been awarded two significant contracts for United States government infrastructure and defense projects, reinforcing the company's position as a trusted partner in the aerospace and defense market. AMI was awarded a multi-year contract by the United States DHS to provide steel and steel logistics support services for the construction of the border wall for a total maximum estimated value of up to $2.24B. The contract runs from February 11, 2026 through December 31, 2028. Under the agreement, AMI will manage procurement, transportation, warehousing, and distribution of steel bollards and steel plates to support construction along the Southwest U.S. border. Steel deliveries are expected to begin in the second quarter of 2026. The financial outlook for the first quarter of 2026 provided by Reliance management on February 18, 2026 remains unchanged and does not include the benefits of this award. Additional financial details will be provided during Reliance's first quarter 2026 earnings call on April 23, 2026. Additionally, AMI was awarded a five-year contract, including option years, to process aluminum plate for multiple Lockheed Martin (LMT) platforms, including the F-35 LightningII program. The indefinite delivery/indefinite quantity agreement has a maximum estimated value of $654 million extending from January 1, 2027 through December 31, 2028 with a maximum of three one-year extensions, and includes value-added, just-in-time, cut-to-size and cut-to-shape processing of aluminum plate for many of Lockheed Martin's facilities, partners, and subcontractors.
