Saint-Georges, Quebec-based fabricator Canam Group Inc. announced Monday that its subsidiary, Canam Steel Corporation, has signed an agreement to acquire the steel joist fabrication assets of Quincy Joist Company, a subsidiary of Schuff International, Inc. These assets comprise a plant in Buckeye, Arizona, including all equipment and inventory, as well as a plant in Quincy, Florida, including all equipment and inventory but not the land. The transaction is subject to due diligence.
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, a municipality located approximately 60 kilometers (37 miles) west of Phoenix, employs about 70 people and has an annual production capacity of 30,000 tons.
