Canam Group closes on sale of Mexico joist facility

Canam Group closes on sale of Mexico joist facility

Quebec-based Canam Group Inc. announced that its Mexico subsidiaries completed the sale of its Mexico joist manufacturing facility to a Commericial Metals Company subsidiary. The company reported that Grupo Canam Manac, S.A. de C.V. and Canam de Juarez, S.A. de C.V. sold the assets of its Ciudad Juarez, Mexico joist manufacturing facility to CMC Commercial Metals de Mexico, S. de R.L. de C.V. on Tuesday (August 16). Jasmin Gosselin, Canam Group vice president of communications told SteelOrbis that it is the company’s intention to leave Mexico and focus on value-added products. When asked whether the sale will affect or close any US plants, Mr. Gosselin said, “This sale won't affect our business in the US because we have different strategy there, regarding specialty products. We are still producing joints over there but they are more complex." Canam Group Inc. is an industrial company operating 12 plants specialized in the design and fabrication of construction products and solutions. The company employs close to 3,000 people in Canada, the United States, Mexico, Romania and India. Commercial Metals Company and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mill, metal recycling facilities and marketing and distribution offices in the United States and in strategic overseas markets.