Houston-based service center, Triple-S Steel announced last week that it has acquired the former Chicago Bridge & Iron Co.'s (CB&I) fabricated steel production plant in Provo, Utah, through Triple-S Steel's affiliate Provo Works LLC.
Terms of the deal for the 160,000-square-foot plant have not yet been disclosed; however, Gary Stein, president of Triple-S Steel, informed press that the asking price of the Utah plant including land was $7.2 million.
Triple-S Steel is hiring a real estate broker to lease the facility and will hire an onsite plant manager to take care of the building. "We bought it on the prospect that customers will want to come in and fabricate something without having to put together a fabricating plant. This is our first venture outside of Texas, where we've done this before," Stein said.
The former CB&I fabrication plant has been closed since August.