CMC to purchase Bouras assets for $63M

Integrated steel company Commercial Metals Company (CMC) announced Monday that it has entered into a definitive agreement to purchase the downstream steel fabrication assets of Nicholas J. Bouras Inc., which include steel deck manufacturer United Steel Deck Inc, steel joist manufacturer The New Columbia Joist Company, and delivery service ABA Trucking Corporation. The purchase price for the assets is approximately $63 million plus inventory on hand at the time of closing, expected to occur within 40 days following regulatory approval and satisfaction of other conditions. The sale does not include Nicholas J. Bouras' subsidiary, Prior Coated Metals Inc., and its affiliate, Bouras Properties LLC. CMC president and CEO Murry McClean told the press: “This acquisition is in line with our growth initiative and strategy of expanding downstream steel fabrication operations. In addition, the highly complementary fit of the Bouras facilities will strengthen our position as a significant supplier of steel joists throughout the United States by expanding our manufacturing capability to better serve the Northeast and Midwest markets.” United Steel Deck's manufacturing facilities are located in South Plainfield, NJ; Peru, IL; and Rock Hill, SC. New Columbia Joist's manufacturing facilities are located in New Columbia, PA. ABA Trucking Corporation provides delivery services for United Steel Deck and New Columbia Joist.