Saint-Georges, Quebec-based steel fabricator Canam Group Inc. announced Tuesday that its US subsidiary, Canam Steel Corporation, has completed the April 29-announced acquisition of the steel joist fabrication assets of Quincy Joist Company, a subsidiary of Schuff International, Inc. These assets, located in Buckeye, Arizona, include all equipment and inventory.
Canam Group should conclude the purchase of the Quincy Joist facility in Quincy, Florida, which also includes all equipment and inventory but excludes the land, when the plant ceases operations in July. The total amount of the two transactions corresponds to the carrying amount of the purchased assets plus the value of inventories.