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Steel
April 7, 2008
Pacific Coast Steel acquires Century Steel
TAMPA, Fla. – Gerdau Ameristeel Corp. has announced that one of its majority-owned joint ventures, Pacific Coast Steel (PCS), has acquired all the assets of Century Steel, Inc. (CSI), a reinforcing and structural steel contractor specializing in the fabrication and installation of structural steel and reinforcing steel products, for approximately US$152 million.
CSI, headquartered in Las Vegas, operates reinforcing and structural steel contracting businesses in Nevada, California, Utah and New Mexico. With fabrication facilities that have an annual capacity in excess of 250,000 tons per year, CSI participates in virtually all segments of the marketplace in the western United States.
Gerdau Ameristeel also announced that, concurrently with the acquisition of Century, Gerdau Ameristeel will pay approximately $68 Million to increase its equity participation in the PCS joint venture to approximately 84 per cent.
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