Canam Group Completes the Acquisition of a Steel Joist Plant in Arizona
04 Jun, 2013, 10:04 ET
SAINT-GEORGES, QC, June 4, 2013 /CNW Telbec/ - Canam Group Inc. (TSX: CAM), specialized in the design and fabrication of construction products, today announced the completion of a transaction by its U. S. subsidiary, Canam Steel Corporation, that was announced on April 29, 2013 to acquire the steel joist fabrication assets of Quincy Joist Company, a subsidiary of Schuff International, Inc. (OTC: SHFK). These assets, which are 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.
About Canam Group Inc.
Canam Group is the largest fabricator of steel components in North America. Specialized in designing construction solutions and fabricating customized products since 1961, Canam Group takes part in an average of 10,000 construction projects each year in three activity sectors: buildings, structural steel and bridges. The Corporation operates 21 plants across North America and employs 3,400 people in Canada, the United States, Romania, India and Hong Kong.
SOURCE: CANAM GROUP INC.
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Vice President, Communications
Canam Group Inc.
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