Atlas Tube and Dofasco conquer and divide Copperweld

Atlas Tube and Dofasco conquer and divide Copperweld

Hollow structural sections (HSS) producer Atlas Tube Inc. announced today that it has purchased all shares of Pittburgh-based Copperweld Holding Company, a steel tubular products manufacturer, for $350 million. In a similar announcement, Canadian steelmaker Dofasco Inc. reported that it will purchase Copperweld’s tubing and auto parts business assets for $177.8 million through Atlas Tube. Atlas will retain Copperweld’s structural division. The closing of each transaction will be subject to typical closing conditions and regulatory approvals and will likely be completed by the fourth quarter 2005. Ontario, Canada-based Atlas Tube is a North American leader in the production of HSS products. Dofasco produces high quality flat rolled and tubular steels and laser-welded blanks, and is Canada's only producer of tinplate.