Canam Group to acquire steel joist plant in Arizona
Buying assets of Quincy Joist Company, including plant in Buckeye, Ariz.
SAINT-GEORGES, Que.—Quebec-based steel components firm Canam Group Inc. says it has acquired a steel joist plant in Arizona.
According to the firm, subsidiary Canam Steel Corp. has agreed to acquire the steel joist fabrication assets of Quincy Joist Company, a division of Schuff International, including a plant in Buckeye, Ariz., as well as the equipment and inventory of a plant in Quincy, Fla., but not the land.
Canam Group, which already operates a joist fabrication plant in Florida, will take possession of the Quincy assets when the current owner halts production activities.
The equipment will be transferred to Canam Group’s other joist fabrication plants.
No decision has been made in connection with the buildings.
The plant in Buckeye, located approximately 60 kilometers west of Phoenix, employs about 70 people and has an annual production capacity of 30,000 tons.
Financial details of the transaction were not made available.