Commercial Metals Co. has entered into a definitive agreement to purchase substantially all the operating assets of Nicholas J. Bouras, Inc., United Steel Deck, Inc., The New Columbia Joist Co., and ABA Trucking Corp.
United Steel Deck manufactures steel deck at facilities in South Plainfield, NJ; Peru, IL; and Rock Hill, SC. New Columbia Joist manufactures steel joists in New Columbia, PA. ABA Trucking provides delivery services for United Steel Deck and New Columbia Joist.
The purchase does not include Nicholas J. Bouras' wholly-owned subsidiary, Prior Coated Metals, and its affiliate, Bouras Properties, LLC. The purchase price for the assets is about $63 million plus inventory on hand at the time of closing which is expected within 40 days following regulatory approval and satisfaction of other conditions. After closing, the acquired assets will be combined with CMC Joist and operate under the trade name CMC Joist
"This acquisition is in line with our growth initiative and strategy of expanding downstream steel fabrication operations," said Murray McClean, president and CEO of Commercial Metals. "In addition, the highly complementary fit of the Bouras facilities will strengthen our position as a significant supplier of steel joists throughout the United States by expanding our manufacturing capability to better serve the Northeast and Midwest markets."
The addition will give CMC Joist an additional 45,000 tons of joist manufacturing capacity in a new geographic market, as well as 160,000 tons per year of deck manufacturing capacity.