Schuff Steel Moving Ahead With Wind Tower Manufacturing Plans
January 07 2011 - 6:55PM
Marketwired
Schuff Steel Company, a subsidiary of Schuff International, Inc.
(PINKSHEETS: SHFK), a leading family of steel companies providing
fully integrated steel construction services, is moving ahead with
preparation of construction documents for a new wind tower
manufacturing plant planned for Ottawa, Kansas. "We are currently
building a first article prototype wind tower at our plant in
Ottawa, Kansas and are pursuing opportunities for volume
manufacturing of the tower," said Dennis Randall, executive vice
president of Schuff's Midwest Division. According to Mr. Randall,
"Volume manufacturing of this new type of wind tower would require
construction of a new plant due to its uniqueness." Construction
documents being prepared are for construction of a new 200,000 sq
ft facility at Schuff's current location on Davis Road. Schuff
anticipates potential employment levels of 200 to 250 people for
the new facility once it is at full capacity.
Demand for the new tower is expected to develop in early 2012,
giving Schuff plenty of time to build the plant if it can secure
sufficient orders. Early preparation of construction documents is
expected to aid in this effort.
Schuff had originally planned to build the plant in North
Dakota, but changing market conditions and providing a location
central to the wind belt were factors in the decision to relocate
the planned facility.
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 35-year old company executes projects
throughout the country as well as internationally. Schuff offers
integrated steel construction services from a single source
including 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. Schuff
International, Inc. employs approximately 1,200 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 utilize any ARRA
Section 48C Clean Energy Manufacturing Tax Credit, the ability to
obtain financing and secure orders sufficient to justify the
construction of a wind tower manufacturing facility and the
company's successful entry into the wind energy sector. Further
risks and uncertainties that may impact Schuff's entry into the
wind energy sector, 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
construction projects; forecasted regional and end-market growth;
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.
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