Grupo Imsa takes over steel painting plant
According to recent news in the market, Mexican company Grupo Imsa has acquired the assets of Polymer Coil Coaters from Magnatrax Corporation for $29 million, through IMSA ACERO.
Through this takeover, Grupo Imsa will acquire an industrial continuous steel painting plant in Fairfield, Alabama. The plant, which mostly supplies its products to the
construction sector in the southeastern United States, produces 135'000 tons of pre-painted steel per annum.
This acquisition is stated to be in line with the company's target of growing in high value-added steel business.
Moreover, IMSA ACERO's annual industrial pre-painted steel
production will increase to 845'000 tons with this acquisition.