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Schuff Steel Company Completes Purchase of Steel Fabrication Facility in Stockton, CA
| Source: Schuff Steel
STOCKTON, CA--(Marketwire - December 7, 2009) - 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.