Canadian construction products fabricator acquires two US plants
Thursday, 05 August 2010 01:29:20 (GMT+3)
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Canada-based construction products fabricator Canam Group, headquartered in St. Georges, Quebec, Wednesday announced that it has signed a definitive agreement through its US subsidiary, Canam Steel Corporation, to acquire from a subsidiary of Commercial Metals Company substantially all of its steel deck assets, namely two steel deck manufacturing plants and their machinery and equipment as well as the machinery and equipment of a third plant. The financial terms of the transaction were not disclosed. The transaction is set to close within two weeks.
The transaction will include the purchase of the raw materials inventory and the intellectual property related to the purchased assets, including the United Steel Deck name.
The two steel deck plants, which will continue to operate, are located in South Plainfield, New Jersey, and Peru, Illinois. They have a combined annual production capacity of 144,000 tons. The equipment now housed in the third plant in Rock Hill, South Carolina, will be relocated to other Canam Group plants.
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