Schuff Steel Company Completes Purchase of Steel Fabrication Facility in Stockton, CA
December 07 2009 - 7:07AM
Marketwired
Schuff Steel Company, a wholly-owned subsidiary of Schuff
International, Inc. (PINKSHEETS: SHFK), has completed an asset
purchase for a steel fabrication plant and certain other assets
from California-based Strocal, Inc. Schuff Steel, the largest steel
fabricator and erector in the United States, completed the
transaction on December 4, 2009. This strategic purchase will
increase Schuff's steel fabrication capacity, further enhancing
their presence in the Northern California market and supporting
additional regional and end-market growth.
Located approximately 65 miles from Oakland, CA, the Stockton
plant sits on 30 acres of land with 121,500 square-feet under roof.
Schuff expects an annual capacity of more than 25,000 tons of
specialty fabricated steel from this facility.
With the addition of this new facility in Stockton, Schuff
enhances its ability to service the Bay Area, as well as expand
their presence in the Pacific Northwest. Also, due to its proximity
to the Port of Stockton, this location opens more possibilities for
Schuff to pursue projects overseas.
"Schuff Steel is very excited about the Stockton, CA facility
and the potential it brings," said Ryan Schuff, president and CEO
of Schuff Steel Company. "This is an ideal location for our efforts
on the West Coast, especially the Bay Area, and also provides a
springboard for us to grow our presence in the Pacific Northwest.
Contractors and owners alike understand the cost and schedule
advantages of bringing Schuff on-board early to assist with
pre-construction design, engineering and cost analysis. In
particular, our clients continue to seek our expertise in
Design-Assist, Design-Build and 3D/Building Information Modeling
(BIM). We continue to offer our clients innovative structural steel
solutions at a level unmatched in the industry."
Including this latest purchase, Schuff International, Inc. owns
and operates ten steel fabrication plants and two steel joist
manufacturing plants. Companies are located in Arizona, California,
Colorado, Florida, Georgia, Kansas, Nevada, and Texas.
About Schuff International, Inc.
Schuff International, Inc. (PINKSHEETS: SHFK) and its family of
steel companies is the largest steel fabrication and erection
company in the United States. The 33-year old company executes
projects throughout the country. Schuff offers integrated steel
construction services from a single source. Professional services
include design-build, design-assist, engineering, BIM
participation, 3D steel modeling/detailing, fabrication, advanced
field erection, joist and joist girder manufacturing, project
management, and single-source steel management systems. Major
market segments include industrial, public works, bridges, health
care, gaming and hospitality, convention centers, stadiums,
mixed-use and retail, transportation, solar and other alternative
energy projects and international projects. Schuff International,
Inc., which is headquartered in Phoenix, AZ, owns and operates ten
steel fabrication plants and two steel joist manufacturing plants.
Companies include Schuff Steel Company located in AZ, NV and CA;
Schuff Steel-Midwest Division located in Overland Park, KS, Ottawa,
KS, Chicago, IL and Denver, CO; Schuff Steel-Gulf Coast, Inc.,
located in Houston, TX; Schuff Steel-Atlantic, Inc., located in
Orlando, FL, Albany, GA and Atlanta, GA; Schuff Steel Management
Company-Southwest, Inc., located in Gilbert, AZ; and Quincy Joist
Company located in Quincy, FL and Buckeye, AZ. Schuff employs
approximately 1,500 people throughout the country. For more
information, visit www.schuff.com.
Certain statements in this news release may contain
forward-looking information within the meaning of the Private
Securities Litigation Reform Act of 1995, and are subject to the
safe harbor created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and
objectives of the company are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. These risks and uncertainties include, but are not
limited to, the company's ability to successfully and timely
complete construction projects; the company's ability to convert
backlog into revenue; the potential delay, suspension, termination,
or reduction in scope of a construction project; forecasted
regional and end-market growth, including future expansion on the
West Coast, Pacific Northwest and overseas and foreign markets; the
continuing validity of the underlying assumptions and estimates of
total forecasted project revenues, costs and profits and project
schedules; the outcomes of pending or future litigation,
arbitration or other dispute resolution proceedings; the
availability of borrowed funds on terms acceptable to the company;
the ability to retain certain members of management; the ability to
obtain surety bonds to secure its performance under certain
construction contracts; possible labor disputes or work stoppages
within the construction industry; the ability of project owners to
obtain financing for projects; and actions taken or not taken by
third parties, including the company's customers, suppliers,
business partners, and competitors and legislative, regulatory,
judicial and other governmental authorities and officials. The
company cautions that these forward-looking statements are further
qualified by other factors. The company undertakes no obligation to
publicly update or revise any statements in this release, whether
as a result of new information, future events or otherwise.
MEDIA CONTACT: Ann Papagalos Papagalos Strategic Communications
P) 602.279.2933, ext.105 C) 602.702.0524 Email Contact
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