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 Copperwelds
tubing and auto parts business assets for $177.8 million through Atlas Tube. Atlas will retain Copperwelds 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.